Correction — 22 October 2026: The original KOSPI decline of 6.17% is corrected to 3.65%. Earlier US equity gains came from a mixed-time input snapshot; the completed daily observations used below show small declines. Claims about a patient Fed or stable term premium are withdrawn. This is a retrospective review using daily history retrieved on 2026-10-22, not a live report or a reconstruction of every quote available at original publication.
Separate a yield level from its daily change
The provider’s 10-year yield observation moved from 5.244% to 5.240%. The difference is minus 0.004 percentage points, or minus 0.4 basis points. A yield can remain high in level while changing very little. Neither the level nor this small change independently reveals the expected policy-rate path.
Dated observations and calculations
| Series / source | Previous date | Previous value | Observation date | Value | Change | Time zone |
|---|---|---|---|---|---|---|
| KOSPI | 2026-10-08 | 6,625.93 | 2026-10-12 | 6,384.24 | -3.65% | Asia/Seoul |
| S&P 500 | 2026-10-09 | 7,811.54 | 2026-10-12 | 7,807.24 | -0.06% | America/New_York |
| Nasdaq Composite | 2026-10-09 | 27,366.17 | 2026-10-12 | 27,245.90 | -0.44% | America/New_York |
| US 10-year yield proxy (^TNX) | 2026-10-09 | 5.244 | 2026-10-12 | 5.240 | -0.4 bp | America/Chicago |
| WTI futures (CL=F) | 2026-10-09 | 91.85 | 2026-10-12 | 93.74 | +2.06% | America/New_York |
| Gold futures (GC=F) | 2026-10-09 | 4,216.30 | 2026-10-12 | 4,190.60 | -0.61% | America/New_York |
Equity performance needs the same dated calculation
The S&P 500 declined 0.06% and the Nasdaq declined 0.44% from their previous daily closes. That does not support the original premise of rising US stocks tolerating an unchanged yield. KOSPI fell 3.65% against its preceding available observation on October 8. The different comparison dates matter: the Korean interval and US interval are not identical windows.
Method and limits
Percentage changes use (value ÷ previous available daily value − 1) × 100, before rounding. Yield changes use the difference in percentage-point quotes multiplied by 100 to obtain basis points. Index levels are in points; futures quotes are in US dollars per barrel for WTI and per troy ounce for gold.
Each linked Yahoo Finance history is the data source for that row. These provider observations have not been independently checked against exchange settlement records. The futures series can change its referenced contract over time and should not be treated as the return on a continuously held investment. A date shared by two markets does not make their closing times simultaneous.
The earlier news-based explanations are omitted because their relevance to these measured moves was not established. For the calculation workflow and trading-session examples, see How to Read Daily Market Returns Without Mixing Trading Sessions.
