Asian markets plunged on Thursday, with KOSPI crashing nearly 8 percent and Nikkei falling about 5 percent, as hotter-than-expected US inflation fuelled Fed rate hike fears and triggered a global selloff in AI and semiconductor stocks.

Sensex Today | Stock Market LIVE Updates: Hotter-than-expected inflation data sent the Nasdaq ​to a sharply lower close on Wednesday, with worries about more interest rate hikes from the Federal Reserve pummeling ‌shares of Oracle, CoreWeave and other AI stocks sensitive to higher borrowing costs. The S&P 500 declined 1.11% to end the session at 7,718.94 points, its biggest one-day drop since July 29. The Nasdaq declined 1.88% to ​26,692.87 points, its biggest daily drop since July 23. The Dow J

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Oil prices rose above $105 a barrel, weighing on global equities as Federal Reserve Governor Christopher Waller signaled further interest-rate hikes may be needed to curb inflation. Dow futures fell 400 points, and S&P 500 futures pulled back from record highs. Asian benchmarks ended sharply lower, with India’s Sensex down 1,045 points and the Nifty hitting a 21-month low.

The Reserve Bank of India raised its policy rate by 25 basis points to 5.50% and changed its stance from neutral to “calibrated tightening” amid persistent inflation pressures. The central bank also lifted its FY27 consumer inflation projection to 5.2%, citing broader food-price pressures and added risks from crude-oil volatility. Right Horizons CEO Anil Rego said the decision was broadly in line with expectations, and that further hikes remain possible even as the RBI has not laid out a preset tightening path, according to Moneycontrol.

Anthropic could begin marketing its initial public offering as soon as the week of Nov. 9 and is aiming to list before the end of the year, people familiar with the matter said. Some prospective investors see a fair valuation for the company in the $1.8 trillion to $2 trillion range. Anthropic posted a net loss of nearly $42 billion in 2025, about five times wider than roughly $8.3 billion a year earlier, mainly due to changes in the fair value of liabilities. Full-year revenue was about $4.6 billion, up from $386 million the prior year.

Indian equities reversed from intraday highs, with the Sensex sliding 250 points and the Nifty falling below 22,700. The move was pressured by record foreign selling, including a net Rs 99.8 billion outflow on Tuesday and $2.7 billion of withdrawals in September. Brent crude rising above $103 a barrel added to inflation concerns. Pharma and healthcare led the decline, with the Nifty Healthcare index down 1.7%, while sentiment also turned cautious on technical resistance.

Brent crude futures rose 1.11% to $103.73 a barrel after US President Donald Trump ruled out easing sanctions on Iran, while WTI added 0.38% to $89.72. Gold was steady around $4,180 an ounce as investors weighed softer oil prices against higher US Treasury yields. Silver edged up 0.1% to $61.54. In currencies, the euro slid to its lowest since May 2025 at $1.1339, while the Australian dollar fell below $0.70.

AI company Anthropic has filed for an IPO and is targeting a valuation of more than $2 trillion. The company said revenue surged 12-fold to nearly $4.6 billion in 2025, while net loss was nearly $42 billion. It spent $7.33 billion on computing and infrastructure and disclosed $518 billion in cloud and infrastructure obligations in the coming years. About 6% of its computing power used for AI research went toward safety work during a sample week in July.