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Live: ASX set to edge lower as oil keeps rising after Wall St slides on AI anxiety

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Letts, S. (2026, October 18). Live: ASX set to edge lower as oil keeps rising after Wall St slides on AI anxiety. ABC News (AU). https://www.abc.net.au/news/2026-10-19/asx-markets-business-live-news/107280976

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ABC News (AU) · collected 2026-10-18 · by Stephen Letts

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Story summary

The ASX is set to edge lower as oil prices continue to rise, following a Wall Street decline driven by concerns over artificial intelligence. Futures markets indicate only a minor decrease for the tech-lite ASX, despite significant drops in major US indices like the S&P 500 and Nasdaq on Friday. The Australian dollar strengthened slightly against the US dollar, trading at 69.44 US cents. Oil prices saw substantial increases, with Brent futures rising by 3.7% to $US109.86 per barrel and WTI futures increasing by 3.5% to $US101.41 per barrel. Iron ore prices also rose by 1.5%, closing at $US91.20 per tonne, while copper prices increased by 0.5% to $US14,498 per tonne. Bitcoin saw a slight decline of -0.8%, trading at $US80,901.

Written for “ASX Set To Edge Lower” on 2026-11-02, grounded in this article and the 0 other(s) covering the same event.

Story

📰 ASX Set To Edge Lower
Economy/Business · 1 article(s) covering the same event.

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10
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0%
0 of 10 hedged ("reportedly", "may", "according to")
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68/100
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1
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ABC News (AU) · 4630 article(s) · 10 correction(s) detected
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Who wrote this

Stephen Letts
9 article(s) here · 1 carrying a prediction
🔮 New: Filters Choose what information you see below by using filters Key Event Wall Street tumbles on mounting AI fears, ASX on edge Wall Street closed the week, maybe not in a blind panic, but there was certainly a disquieting dumping of stocks as investors fled to the exits and the weekend. All three key indices fell sharply, the tech-centric Nasdaq fell the hardest and is down almost 8% from its record high of just three weeks ago. - S&P 500: 1.8% - Dow: -1.1% - Nasdaq: 2.9% The dump saw the global MSCI down 1.5% for the day, while the pan-continental Eurostoxx 600 fell a comparatively modest 0.4%.
2026-11-01 · assertive framing · Live: Wall Street sinks on AI fears, ASX on edge ahead of RBA meeting
🔮 Wall Street retreats as oil prices continue to rise, ASX set to slip Oil prices jumped 3 per cent to $US120/barrel, a level not seen since early in the US/Iran war. That has seen risk assets like shares put under pressure, with key US indices all falling on Friday and the ASX set to follow today.
2026-10-25 · assertive framing · Live: Wall Street retreats as oil prices continue to rise, ASX set to slip
🔮 ASX set to edge lower as oil keeps rising after Wall St slides on AI anxiety
2026-10-18 · assertive framing · Live: ASX set to edge lower as oil keeps rising after Wall St slides on AI anxiety
🔮 ASX set to rise after strong sessions on Wall Street and Europe Wall Street's key indices closed the week higher in expectation of another strong results season ahead.
2026-10-11 · assertive framing · Live: ASX set to rise after strong sessions on Wall Street and Europe
🔮 live Markets live updates: Wall Street closes higher after disappointing jobs report, ASX set to gain
2026-10-04 · assertive framing · Live: Wall Street closes higher after disappointing jobs report, ASX set to gain
🔮 ASX set to open higher, Wall Street flat as oil continues slide
2026-09-22 · assertive framing · Live: ASX set to open higher, Wall Street flat as oil continues slide
🔮 ASX set to slide despite Wall Street edging up and lower oil prices Considering the volatility of the week, Wall Street's Friday session was relatively uneventful, with a rally in semiconductor stocks dragging the market to a marginal gain.
2026-09-20 · assertive framing · Live: ASX set to slide despite Wall Street edging up and lower oil prices
🔮 Futures traders on the ASX have struggled to make sense of the impact, with the market poised to open flat this morning, and a meeting of Baltha creditors today could decide the fate of the construction firm that has collapsed, owing $3.4 billion.
2026-09-06 · assertive framing · Live: Wall Street slips as bond yields rise, ASX treading water
Also by Stephen Letts
Live: Wall Street sinks on AI fears, ASX on edge ahead of RBA meeting
2026-11-01 · ABC News (AU)
Live: Wall Street retreats as oil prices continue to rise, ASX set to slip
2026-10-25 · ABC News (AU)
Live: ASX set to rise after strong sessions on Wall Street and Europe
2026-10-11 · ABC News (AU)
Live: Wall Street closes higher after disappointing jobs report, ASX set to gain
2026-10-04 · ABC News (AU)
Nothing else under this byline is closely related to this article, so these are simply their most recent.
All 9 articles by Stephen Letts →

Topics

ABC Australia Australian China Europe

Subjects

ABC ORG · 2× Australia GPE · 1× Australian NORP · 1× China GPE · 1× Europe ORG · 1× Stephen Letts PERSON · 1×

Narrative

Copper (LME): +0.5% to $US14,498/tonne - Bitcoin: -0.8% $US80,901 - 10-year bonds: US 5.07% Australia 5.23% Prices current at around 7:00am AEDT New: Filters Choose what information you see below by using filters Good morning Good morning and welcome to another day on the ABC markets and finance blog.
framing: assertive · carried by 1 article(s) · first seen 2026-10-18
🔮 ASX set to edge lower as oil keeps rising after Wall St slides on AI anxiety
2026-10-18 · ABC News (AU)
Live: ASX set to edge lower as oil keeps rising after Wall St slides on AI anxiety · assertive framing

Claims (10 extracted, 0 hedged)

ASX set to edge lower as oil keeps rising after Wall St slides on AI anxiety asserted
St → set → anxiety
The tech-lite ASX looks relatively immune from a Wall Street retreat, with futures markets pointing to only a marginal decline today. asserted
markets → look → decline
Disclaimer: this blog is not intended as investment advice. asserted
blog → intend → advice
Copper (LME): +0.5% to $US14,498/tonne - Bitcoin: -0.8% $US80,901 - 10-year bonds: US 5.07% Australia 5.23% Prices current at around 7:00am AEDT New: Filters Choose what information you see below by using filters Good morning Good morning and welcome to another day on the ABC markets and finance blog. asserted
you → choose → blog
Stephen Letts from ABC business team limbering up for a blow-by-blow coverage of the day's events, where every post is hopefully a winner, but none should be construed as financial advice. asserted
none → limber → advice
Wall Street closed sharply lower on Friday, dragged down by growing anxiety of the debt financing of the AI boom and whether the massive investment will deliver decent returns. asserted
investment → close → returns
The Nasdaq Index fell more than 2%. asserted
Index → fall → ?
The ASX, isolated to a degree from AI's ups and downs, is priced for only a marginal retreat on opening. asserted
ASX → isolate → opening
Later today we will a blizzard of data out of China — Q3 GDP, as well as monthly releases on retail sales, industrial production and infrastructure/property investment will be published. asserted
blizzard → publish → sales
The game's afoot, so let's get blogging. Loading asserted
's → let → ?
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