· Sangyong · Market Analysis · 3 min read
Weekly Market Review - October 24, 2026
The week of October 19-23, 2026 was characterized as Global Risk-Off. US markets finished modestly lower with the S&P 500 at -0.87% and the Nasdaq at -1.80%. 2 of 7 Magnificent 7 stocks advanced on the week. Korean marke
Prepared by Sangyong’s Market Intelligence
Executive Summary
Week Character: Global Risk-Off
The week of October 19-23, 2026 was characterized as Global Risk-Off. US markets finished modestly lower with the S&P 500 at -0.87% and the Nasdaq at -1.80%. 2 of 7 Magnificent 7 stocks advanced on the week. Korean markets closed sharply lower, with KOSPI at -3.77% and KOSDAQ at -7.07%.
The 10Y Treasury yield rose 3 bps to 5.13%, with little impact on equity multiples. The Korean won strengthened 0.55% against the dollar — a negligible FX effect.
Key stat: Divergent markets — cross-asset selectivity mattered more than directional bets.
Weekly Performance Summary
U.S. Magnificent 7
| Stock | Symbol | Mon Open | Fri Close | Weekly Change | Trend |
|---|---|---|---|---|---|
| Apple | AAPL | $343 | $348 | +1.40% | 🟢 |
| Microsoft | MSFT | $534 | $525 | -1.69% | 🔴 |
| Alphabet | GOOGL | $344 | $320 | -6.96% | 🔴 |
| Amazon | AMZN | $262 | $248 | -5.51% | 🔴 |
| NVIDIA | NVDA | $217 | $211 | -2.82% | 🔴 |
| Meta | META | $705 | $643 | -8.91% | 🔴 |
| Tesla | TSLA | $368 | $372 | +1.13% | 🟢 |
Korean Market Leaders
| Stock | Symbol | Mon Open (₩) | Fri Close (₩) | Weekly Change | Trend |
|---|---|---|---|---|---|
| Samsung Elec. | 005930 | ₩223,500 | ₩213,500 | -4.47% | 🔴 |
| SK Hynix | 000660 | ₩1,304,000 | ₩1,263,000 | -3.14% | 🔴 |
| Hyundai Motor | 005380 | ₩324,500 | ₩293,000 | -9.71% | 🔴 |
Indices
| Index | Mon Open | Fri Close | Weekly Change | Trend |
|---|---|---|---|---|
| S&P 500 | 7,690.73 | 7,623.68 | -0.87% | 🔴 |
| Nasdaq | 26,430.89 | 25,955.34 | -1.80% | 🔴 |
| Dow Jones | 51,966.03 | 52,215.16 | +0.48% | 🟢 |
| KOSPI | 5,768.01 | 5,550.30 | -3.77% | 🔴 |
| KOSDAQ | 808.89 | 751.69 | -7.07% | 🔴 |
Currency (KRW/USD)
- Monday: ₩1,332
- Friday: ₩1,324
- Weekly Change: -0.55% (KRW strengthened — USD weaker)
- Impact: Negligible FX impact this week.
U.S. 10-Year Treasury Yield
- Monday: 5.10%
- Friday: 5.13%
- Weekly Change: +3 bps
- Implication: Stable yields — no rate-driven equity repricing this week.
Weekly Trends and Themes
1. US Market Performance
S&P 500: -0.87% | Nasdaq: -1.80% | Dow: +0.48%
The S&P 500 fell -0.87% for the week, with Nasdaq leading the decline at -1.80%. Defensives held up better; the decline was growth/tech-driven.
Magnificent 7: 2 of 7 Mag7 stocks advanced. Best: Apple (+1.40%), worst: Meta (-8.91%).
Takeaway: Consolidation week — no tactical change needed.
2. Korean Market Performance
KOSPI: -3.77% | KOSDAQ: -7.07% (weekly)
KOSPI fell -3.77% — a significant weekly decline; avoid new entries until price stabilizes.
KOSDAQ dramatically lower (-7.07%), underperforming KOSPI — investors preferring large-cap stability.
Among Korean blue chips: SK Hynix led (-3.14%), Hyundai lagged (-9.71%).
Takeaway: Weak week — wait for stabilization before new entries.
3. Currency Impact (KRW/USD)
Weekly KRW Move: -0.55% ₩1,332 → ₩1,324
The won firmed slightly (-0.55%, ₩1,332 → ₩1,324) — a mild positive for USD investors.
Investor Implication: Minor FX tailwind; no action needed.
Export sector note: KRW strength compresses USD-reported revenues for Korean exporters — margin headwind for next quarter.
4. Treasury Yields
10Y: 5.10% → 5.13% (+3 bps)
The 10Y Treasury yield held steady at ~5.13% (+3 bps for the week) — no yield-driven repricing of equities.
Market Implication: Stable rates support growth stock multiples.
5. Key Weekly Observation
- US outperformed Korea by 2.9pp this week — US macro strength or global risk rotation toward dollar assets is the likely driver.
- Wide Mag7 dispersion this week (10.3pp between best and worst) — stock-pickers’ market; index-level moves understate individual name volatility.
Best and Worst Performers
Best (Weekly Upside Movers):
- Apple: +1.40% ██
- Tesla: +1.13% ██
- Microsoft: -1.69% ███
- NVIDIA: -2.82% █████
- SK Hynix: -3.14% ██████
Worst (Weekly Declines):
- Alphabet: -6.96% █████████████
- Meta: -8.91% █████████████████
- Hyundai: -9.71% ███████████████████
Commentary:
Hyundai was the clear laggard at -9.71% — a decline of this magnitude warrants a fundamental review. Check whether this reflects a company-specific negative (guidance cut, regulatory headwind) or macro pressure.
2 of 10 stocks advanced. Negative breadth — more stocks declining than advancing.
Weekly Review Compiled: October 24, 2026 at 12:10 PM Analysis Period: October 19 - 23, 2026 Data Sources: Daily market reports, Naver Finance, Yahoo Finance, FRED