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Daily Markets Update: Hot U.S. CPI Rattles Tech, Kospi Crashes 7.6%, TSX Slides 1.1% (Oct. 15)

  Thursday, October 15, 2026 | Canadian Money Brief | Daily Markets Update A hotter-than-expected U.S. inflation report turned Wednesday into a risk-off day, and the damage spread overnight to Asia, where South Korea's Kospi crashed 7.6% and triggered a market-wide circuit breaker. Here is where Canada, the U.S. and the world's other major markets stand this morning. Today's Headlines U.S. CPI hit 3.7% in September (3.6% expected, 3.4% in August), with core inflation at 2.6%. The Nasdaq fell 1.88% and the S&P 500 lost 1.11%. The TSX fell 1.11% to 35,584.46 , ending a three-day winning streak as materials plunged 4.33%. Asia sold off hard on AI valuation fears: Kospi -7.57% (seventh straight loss), Nikkei -4.90%. The loonie sits near an 18-month low at about 70.1 US cents as Fed-hike bets rise. Brent closed at US$106.06 and gold slid to a one-week low near US$4,084. Canada: TSX Ends Three-Day Win Streak The S&P/TSX Composite Index fell 399.52 points, or 1.11%, to...

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Trump Sets Sights on Trade Breakthrough with Xi During Asia Tour

US President Donald Trump attends a bilateral meeting with China's President Xi Jinping during the G20 leaders' summit in Osaka, Japan, on June 29, 2019.

U.S. President Donald Trump has embarked on a high-stakes trip across Asia, with his most closely watched stop set to be a meeting with Chinese President Xi Jinping in South Korea. The visit comes at a critical moment, as both nations grapple with escalating trade tensions and the global economy watches closely for signs of compromise.

Trump’s itinerary includes stops in Malaysia, Japan, and South Korea, marking his longest overseas journey since returning to the White House. At the heart of the trip lies his effort to secure a trade deal with Xi, a move that could ease months of tariff threats and economic uncertainty.

The White House confirmed that Trump and Xi will hold a bilateral meeting on October 30, on the sidelines of a major regional summit. Officials say the talks will focus on tariffs, rare earth export restrictions, and broader economic cooperation.

Analysts note that the outcome of this meeting could either stabilize markets or deepen the rift between the world’s two largest economies. Trump has hinted at the possibility of harsher tariffs if no agreement is reached, while Xi is expected to push back against U.S. demands seen as too restrictive.

As Trump positions himself as a dealmaker on the global stage, the Asia trip represents both an opportunity and a gamble—one that could define the trajectory of U.S.-China relations for years to come.


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