Before the bell: Europe isn't a hiding place

QQQ•2026-10-15

European markets struggled to avoid the AI-driven selloff: Euro STOXX 50 futures fell 0.9%, Nasdaq futures dropped more than 1% and Korea's KOSPI fell 7.5%. TSMC reported a 69% jump in third-quarter net profit to a record T$763.1 billion.

1. Markets face renewed pressure

Europe had avoided the previous day's AI-driven selloff, but Euro STOXX 50 futures were down 0.9% on Thursday. Nasdaq futures fell more than 1%, while Korea's chip-heavy KOSPI dropped another 7.5%; FTSE futures were flat.

2. Chip and company updates

The Philadelphia Semiconductor Index fell 4.3%, its sixth consecutive decline, and was down 11.6% over those six sessions. TSMC reported a 69% rise in third-quarter net profit to a record T$763.1 billion ($23.59 billion), beating forecasts. TotalEnergies expects its refining margins to have nearly quadrupled year over year, while Nordea's third-quarter operating profit fell 4% and missed expectations.