General Wire › 30 Oct 2026
Daily brief
General Wire — 30 October 2026
Alphabet's worst day on record revives AI-spending jitters, Lagarde announces her ECB exit, and Netanyahu's bloc loses its majority in Israel's election.
Business
Marvell is reported to be nearing a deal to buy Nvidia-backed optics maker Lumentum, which has a market value of $83 billion, in a potential AI mega-deal. — Bloomberg
Finance
Christine Lagarde will step down as ECB president in February, nine months before her term ends, starting a race to succeed her. — Bloomberg
The Fed held rates, with Kevin Warsh signalling the potential for more hikes without saying so outright. — Bloomberg
Credit markets look to be nearing their limit on AI debt, with yields on data-centre financing in the double digits and default-swap costs for some large borrowers at junk-like levels. — Bloomberg
Politics
Parties backing Binyamin Netanyahu won 53 of 120 Knesset seats and lost their majority, but the opposition’s Jewish and Arab blocs will struggle to co-operate to form a government. — The Economist
Tech / AI
Alphabet shares fell about 13% in their worst day ever after search revenue missed expectations, partly because queries in AI mode earn less from ads. — Bloomberg
Headlines are summarised in our own words for comment and analysis, with attribution and a link to the original publisher. Indicative only — not investment or trading advice. For commodity and cross-asset risk coverage, see Risk Wire.