{
  "id": 11236201,
  "title": "If a bruising third quarter can’t halt Wall Street, what can?",
  "url": "https://urgent.news/2026/09/30/if-a-bruising-third-quarter-cant-halt-wall-street-what-can",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-30T21:00:00.000Z",
  "source": {
    "name": "Gulf Times Business",
    "slug": "gulf-times-business",
    "url": "https://www.gulf-times.com/article/734611/business/if-a-bruising-third-quarter-cant-halt-wall-street-what-can"
  },
  "original_language": "en",
  "account": "The third quarter of 2026 witnessed Wall Street scaling new record highs amidst a flurry of economic concerns. Energy prices surged, bond yields hit 20-year highs and artificial intelligence threatened to wipe out humanity, yet US and global stocks pushed higher. The S&P 500 rose just 2%, but this was considered commendable considering the dismal backdrop. The nasdaq traded at a record high of 27,288 points. Corporate earnings growth in the second quarter was impressive, with an average increase of 53.7%. However, the picture was murkier as about 40% of S&P 500 stocks were down for the year and a quarter of its constituents had fallen 10% or more. Strategists at Goldman Sachs noted that market breadth was the narrowest since 2000. AI and AI-related companies dominated the market, with more than half of the S&P 500's market capitalization now composed of AI or AI-adjacent companies. Global equity markets, particularly in Japan, China, and Europe, lagged behind. South Korea's KOSPI plummeted by around 20%. The cost of capital was rising rapidly, with the 10-year US Treasury yield surging by more than 85 basis points. This was one of the highest quarterly increases in the last 50 years. The Fed, under new Chair Kevin Warsh, raised interest rates in September. Energy supply shocks due to the US-Iran and Russia-Ukraine wars are fueling inflation fears. The US debt has crossed the $40tn barrier, which was beneficial for crypto investors who pushed bitcoin up 43% in the July-September period. Credit came under heavy pressure as US investment-grade and high-yield corporate bonds recorded their biggest quarterly losses since 2022. Looking ahead, the hawkish rate outlook in the US remains a major headwind. The Fed's next step, whether in October, just before the US midterm elections, or in December, could impact the fourth quarter's performance. Investors should brace themselves for more interest rate hikes, concerns about AI's threats, employment outlook, and the ongoing US-Iran war.",
  "summary": "Wednesday closed the books on an extraordinary quarter. A 40% rebound in Brent crude oil, record-high diesel prices, bond yields at 20-year highs and AI's threat to wipe out humanity gave investo...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Financial Post",
        "title": "Grindr to Acquire Freddie, Expanding Access to HIV Prevention for Millions of Users",
        "url": "https://urgent.news/2026/09/30/grindr-to-acquire-freddie-expanding-access-to-hiv-prevention-for",
        "published": "2026-09-30T20:50:13.000Z"
      },
      {
        "outlet": "Techmeme",
        "title": "Grindr agrees to acquire PurposeMed, owner of HIV-prevention telehealth provider Freddie, for $250M, its first major acquisition as it expands into a gay hub (Elias Schisgall/Wall Street Journal)",
        "url": "https://urgent.news/2026/10/01/grindr-agrees-to-acquire-purposemed-owner-of-hiv-prevention",
        "published": "2026-10-01T01:25:02.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}