US equity markets tumbled Friday, with the collapse led by the tech-heavy NASDAQ. The numbers are not adding up, with the deluge of investment and the ability to service that enormous debt under question. The high risk of AI and the tech sector is being seriously questioned by markets, which has resulted in the huge swings in share markets. The cost of debt servicing has been on the rise, as the energy crisis has sparked inflation leading to higher interest rates. This coming Tuesday will be focused on the US Mid-Term elections. The US Dollar was steady, with the EUR trading around 1.1150, while the GBP heads towards 1.3400.Local markets will be focused on the first Tuesday in November for different reasons, other than the US Mid-Terms, the ‘Great Race’. On this auspicious day, is also the RBA interest rate decision, where the Central Bank may try to slip a rate rise on the preoccupied people? The AUD closed the week around 0.7030, while the NZD still stumbles around 0.5630.
