The trading session was dominated by a sell-off in technology stocks after Dario Amodei, CEO of Anthropic, called for slowing the pace of AI development—with the backing of Sam Altman and Elon Musk—which hit the indices most exposed to semiconductors; Trump rejected the idea and labeled calls for greater controls a “conspiracy,” while the rise in oil prices fueled inflation concerns ahead of the Fed’s decision this week. U.S. stock indices fell, with the Nasdaq down 0.6%, the S&P 500 down 0.5%, and the Dow Jones down 0.3%; In Asia, the decline was more severe, with the Kospi plunging 3.3%, the Nikkei 0.8%, and the CSI 300 0.7%, while in Europe, the Stoxx 600 fell 2.2%. In commodities, WTI rose 1.8% to $101.90 and Brent rose 1.6% to $106.30, while gold fell 1.4% and silver fell 2.2%. In the bond market, interest rate futures currently price in a 92% probability of a 25-basis-point rate hike by the Fed this week and already price in a second hike in December, which pushed up the short end of the U.S. Treasury yield curve, with the 2-year yield rising 2.9, the 10-year by 1.7, and the 30-year falling by just 0.2 basis points; the German Bund rose 1.1 basis points and the British Gilt 1.9 basis points. On the FX and volatility front, the DXY rose 0.4% to 99.5, and the VIX gained 1.3 points to 17.1.

In Venezuela/PDVSA, the short-, medium-, and long-term segments of the sovereign bond fell by 0.1, 0.2, and 0.2 points, respectively, while PDVSA saw declines of 0.2, 0.1, and 0.3 points. Elecar rose 0.1 and PDV'20 gained 0.1 points. Trading volume was low, with just USD 43 million concentrated in PDV'24/26.

On the Latin American yield curve front, sovereign yields fell across the board, with Argentina down 0.3, Mexico down 0.3, Brazil down 0.1, Ecuador down 0.3, El Salvador down 0.4, the Dominican Republic down 0.6, Pemex down 0.3, and Colombia down 0.4 points. Trading volume was low.