Global markets rise on AI chip demand as US inflation data weighs on Wall Street

Global markets mostly rose Wednesday on strong AI chip demand, despite Wall Street's retreat after US inflation came in higher than expected for October. US futures edged higher and oil prices rose. Germany's DAX gained 1% as inflation fell to 2.8%, while Taiwan's Taiex led Asia with a 3.6% jump after TSMC reported October revenue nearly sixfold higher year-over-year. Japan's Nikkei rose 1.3%, and South Korea's Kospi climbed 2.4%, though Hong Kong's Hang Seng fell 1.1%. The S&P 500 slipped 0.4% Tuesday as bond yields leaped to 4.99%, potentially pushing the Federal Reserve to hike rates in December. Nvidia fell 5.5% amid an investigation into its CEO, while Anthropic seeks a $1.3 trillion valuation.