Nasdaq-100 futures fell 1.5% to hit premarket lows.

ECB chief economist Lane said that if incoming data remain unchanged over the coming weeks, the ECB should raise borrowing costs at its December meeting. Despite potential oil volatility, he warned year‑end inflation could be slightly above 4%, with food and core prices likely to accelerate, particularly in Q1 next year. If the December information set mirrors today’s, a rate rise would be prudent, he said, and there will be further developments on peak inflation. Markets price a high probability of a December hike and expect additional tightening into 2027. Lane said the ECB will "follow the data" next year and urged traders not to rely solely on commodity moves, calling for market repricing to reflect broader macro developments as well as energy.

Front-month palm oil futures surged to 8,761 yuan/ton, up about 1%, reversing an earlier drop of more than 2%.