Zelenskyy Defies Trump; Leakers 'Should Be Shot' Says President

SPEAKER_1 (0:02)

Bloomberg Audio Studios, Podcasts, Radio, News.

Nathan Hager (0:09)

Good morning, I'm Nathan Hager.

Karen Moskow (0:11)

And I'm Karen Moskow. Here are the stories we're following today.

Nathan Hager (0:15)

Karen, we begin with new developments in Ukraine this morning. The president of Ukraine, Volodymyr Zelenskyy, says he plans to resume strikes on Russian refineries, defying a request from President Donald Trump to stop. Zelenskyy told the Financial Times he feels betrayed. He's accusing the president and Elon Musk of limiting Ukraine's satellite usage. She talked about it with Piers Morgan.

Volodymyr Zelenskyy (0:38)

What was really strange and what was not like between partners, the day switch of Stalink. So it's something absolutely crazy steps between us. So we hold energy ceasefire from our side.

Nathan Hager (0:56)

Again, that was president Volodymyr Zelenskyy of Ukraine speaking with Piers Morgan now.

SpaceX CEO Elon Musk wrote on social media that any limits on speed or usage of Stalink are decided by the US military and ultimately the president. This morning, Ukraine says normal Stalink service has been restored for its military, though it is still seeking clarification about yesterday's restrictions.

Karen Moskow (1:17)

Well, elsewhere in geopolitics, Nathan, the EU and Gulf Cooperation Council are expected to postpone their flagship political summit as how Saudi Arabia comes under attack from Yemen's Houthis. The meeting in Riyadh, scheduled for October 24th, was supposed to bring leaders of EU member states together with leaders of Gulf countries to discuss energy and trade. Sources tell Bloomberg some Gulf officials told European counterparts they're likely to delay the event due to security concerns. The Saudi government did not respond to requests for comment.

Nathan Hager (1:47)

Well, staying overseas with a focus on the economy, Karen, we heard this morning from former European Central Bank President Mario Draghi. He spoke with Bloomberg News editor-in-chief John Micklethwaite at the New Economy Forum in New Delhi, India. Draghi discussed economic pressures in France, saying it's a long way away from more recent European economic crises.

Mario Draghi (2:06)

But at that time, you know, we, if we go back, you will remember we had a revelation that one country of Europe, Greece, had somehow numbers of their, in their budget, budgetary accounts.

Nathan Hager (2:25)

Former ECB President Mario Draghi says the Central Bank is unlikely to intervene to help France. He's citing high and rising inflation as the Central Bank's first priority. Catch that conversation with our Editor-in-Chief, John Mickelthwaite, and all our high-profile discussions from the Bloomberg New Economy Forum. We have them all for you on the Bloomberg Terminal, bloomberg.com and the Bloomberg Business App.

Karen Moskow (2:45)

Well, Nathan, let's get to domestic politics now. The midterm elections are less than three weeks away, and President Trump held two rallies yesterday to boost Republican candidates. At his first event in Bullhead City, Arizona, the President complained about negative coverage of the war with Iran.

Donald Trump (3:01)

You know, if somebody leaked some sleazebag, they ought to go to jail and be shot for the rest of their life. They should be in jail. In my opinion, leakers should be shot.

They should be shot.

Karen Moskow (3:12)

The President said a leak about strike plans against Iran led him to reschedule an operation, so he didn't specify which one. And later in Kalispell, Montana, President Trump put a focus on the economy.

Donald Trump (3:25)

Like we had the greatest economy in the history of our country in my first administration. We are going to blow it away in this administration. As soon as...

As soon as Iran... Iran's going to be over very quickly.

Karen Moskow (3:40)

President Trump's campaign stops are part of a month-long blitz ahead of the November election.

Nathan Hager (3:46)

Turning to the markets now, Karen, the global artificial intelligence selloff is accelerating. South Korean stocks close close to 8% lower and it forced a temporary trading halt this morning. Bloomberg's John Tucker is here with the latest. John.

John Tucker (4:00)

And Nathan, Asia bore the brunt of those losses. The chip heavyweight Samsung Electronics and SK Hynex, both sinking more than 9%. Taiwan Semiconductor Manufacturing losing 2% before reporting profit that beat estimates.

Still no reason to panic just yet, says Henry Allen with Deutsche Bank.

Henry Allen (4:18)

The S&P 500 is still only 1.3% beneath its all time high from last week. So we are not yet seeing this catalyze into a broader selloff.

John Tucker (4:29)

In the US, the chip route did continue yesterday with the SOX, the semiconductor index, down another 4.3%.

It's down 20% from its June peak, the usual definition of a bear market. And it doesn't help that inflation has put higher financing costs in focus. The NeoCloud CoreWeave saw its financing costs surge and its share price plunge 17% yesterday. I'm John Tucker, Bloomberg Radio.