AI debt risks, tech sell-off and inflation 10/15/26

Rising debt costs and credit default swap spikes at CoreWeave and Oracle are now the central risk investors watch in the AI trade.

• AI debt fears hit markets: Nasdaq fell 2% (worst day since July) on worries over CoreWeave's ~$50B debt and Oracle's $125B load; CDS on Oracle up 283% and CoreWeave up 180% over the past year, with CoreWeave's five-year CDS blowing past 1,000bps.
• Rates whipsaw: US 10-year yield spiked to 5.32% then fell back to 5.098% as investors rotated into bonds amid the tech sell-off; hot CPI data and looming PPI stoked rate-hike fears.

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