Live updates: Market nervousness persists as the AI selloff deepens — SkimNews
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- U.S. housing starts plummeted 5.2% in September to a seasonally adjusted annualized rate of 1.221 million, sharply missing economist forecasts of 1.3 million.
- August housing starts were set at 1.288 million in the prior reading, making the September print a marked deterioration month-over-month.
- Building permits fell to 1.4 million from 1.403 million, a touch above the 1.39 million consensus forecast.
- The report is framed as fresh evidence that elevated interest rates are continuing to bite into the housing market, landing on a day of broader market jitters.
Why it matters: The 5.2% housing starts miss landed as WSJ, CNBC, and CoinDesk cover an AI-led equity selloff tied to chipmakers, a weak data-center IPO, and a South Korean IPO slump — adding fresh rate-pain evidence to the broader market jitters.
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