13 February 2026
US stocks sold off on Thursday amid investor worries over AI disruption. The S&P 500 dropped 1.6%.
US Treasuries rose ahead of today’s CPI data release. 10-year yields fell 7bp to 4.10%.
European stocks traded mixed. The Euro Stoxx 50 fell 0.4%. The German DAX ended flat while the French CAC gained 0.3%. In the UK, the FTSE 100 lost 0.7%.
European government bonds rose. 10-year German bund yields edged 1bp lower to 2.78%, while 10-year French bond yields fell 2bp to 3.36%. In the UK, 10-year gilt yields fell 3bp to 4.45%.
Asian stock markets lacked clear direction on Thursday. Korea’s Kospi surged 3.1% amid investor enthusiasm over AI infrastructure. Both Japan’s Nikkei 225 and China’s Shanghai Composite ended little changed, while Hong Kong’s Hang Seng fell 0.9% on tech weakness. India’s Sensex fell 0.7% on soft corporate earnings and ongoing concerns about AI disruption.
Crude oil prices fell on Thursday. WTI crude for March delivery settled 2.8% lower at USD62.8 a barrel.
In the UK, Q4 2025 GDP rose less than expected by 0.1% qoq, driven by the manufacturing sector, while construction dragged and the services sector flatlined.
India's headline CPI inflation stayed benign at 2.8% yoy in January, per the new series with a base year of 2024.
US CPI inflation is expected to nudge lower to 2.5% yoy in January, from 2.7% yoy in December, as residual seasonality and further passthrough of tariffs could result in sticky near-term inflation in Q1 2026.
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