Top Overnight News Nvidia Chief Executive Officer Jensen Huang took a sanguine view toward the latest AI stock-market rout, saying the benefits of the technology will soon outweigh the concerns of investors. BBG President Trump, defending his decision to ease tariffs and other sanctions against Russia, said on Sunday that he was making “great progress” in a peace deal with the Kremlin and suggested for the first time that the process included “hostage negotiations.” NYT Russian President Vladimir Putin has proposed that he, President Trump and Chinese leader Xi Jinping meet next month to talk about Ukraine in an attempt to negotiate an end to the four-year conflict that would favor Moscow, said people familiar with the discussions. WSJ Washington is pushing an idea whereby Europe would resume buying Russian gas an inducement for Putin to end the war in Ukraine. NYT Iranian support has helped the Houthis mount the most potent and sophisticated attacks yet on Saudi Arabia and its Yemeni allies, including help targeting drone and missile attacks, as well as training, intelligence and tactical guidance, people briefed on intelligence from Saudi Arabia and Yemen’s anti-Houthi alliance said. WSJ Ukrainian President Volodymyr Zelenskyy accused Donald Trump of trying to pressure Kyiv into surrendering to Russia, escalating a week-long row with the US president. BBG Republican lawmakers, including some of the president’s strongest allies on Capitol Hill, blasted Donald Trump for waiving new tariffs and sanctions on Russia, prompting the president to defend himself against members of his own party. BBG US Energy Secretary Chris Wright told Fox News that Persian Gulf oil flows had recovered to about 80% of their pre-conflict level, although refined-product shipments remained constrained. Wright said he’s in talks with European allies to release diesel stockpiles. BBG China’s growth accelerated more than expected last quarter, putting Beijing’s annual target within reach and dimming the prospects for further easing measures. GDP expanded 4.5% year on year. BBG Apple on Friday said its foldable iPhone Duo had seen “nothing short of extraordinary” demand, as the device sold out on the company’s website until next year within hours of going on sale. FT The US government’s debt interest burden reached a record high for fiscal 2026, with net interest costs coming to $1.05 trillion, up more than 8% from the $970 billion in fiscal 2025. BBG Elon Musk pledged to give one SpaceX share to “every kid in America” next year. BBG Weeks ahead of Election Day, 71% of U.S. adults think the country is on the “wrong track.” It’s the highest share yet in President Donald Trump’s second term, illustrating the grim national mood his party faces in the midterm elections. NBC Nvidia-backed data center developer Nscale faces opposition to the valuation target it’s pursuing in its IPO, according to people familiar with the matter. BBG The violence that rocked France this weekend as cost-of-living protests degenerated into looting and burning nationwide is raising alert levels across Europe, where elections will be held in at least half a dozen countries next year. BBG Indonesian markets extended their selloff, with stocks deepening their worst rout in almost 30 years and losses spreading to bonds and the rupiah after MSCI Inc. warned the country may face a two-step downgrade. BBG China’s financial regulators are establishing a liquidity support facility to cushion non-bank financial institutions against potential large scale redemption pressures, People’s Bank of China Governor Pan Gongsheng said at the Financial Street Forum annual meeting in Beijing, CCTV reported. BBG The Bank of England is examining whether Barclays traders misrepresented illiquid private credit loans to understate their risk after the Prudential Regulation Authority received a complaint earlier this year. FT IRGC said two oil tankers caught fire in the Strait of Hormuz after hitting mines. Newsquawk US President Trump pledged USD 5k for every adult if the GOP wins Congress, speaking at a Kentucky rally ahead of the 3rd November midterms; separately, Reuters reported he blamed aides for a faltering Republican midterm strategy as Democrats led House polls. Newsquawk Intensifying concerns about the cost and availability of funding have caused investors to reduce their equity market exposures and price a deceleration in the growth outlook. Rising energy prices and interest rates have weighed on the performance of many cyclical equities since early August. During the last two weeks, however, the potential implications of a sharply rising cost of capital on the AI build-out have weighed further on the market outlook for economic and earnings growth. Exacerbating these rotations, this week GS Prime Services noted a sharp reduction in hedge fund net leverage alongside a positioning pullback in AI-related stocks. Goldman