The Global Pulse Weekly Update 21st Sep'26

The Fed raised rates this week for the first time since 2023 and signalled at least one more to come, which set the tone for everything else. Treasury yields climbed with it, the US 10-year reaching its highest level since 2007, and oil stayed above $100 a barrel.

Rising borrowing costs and rising fuel costs land on the same companies first, so banks, industrials and smaller names took the worst of it while big tech held up. You can see that split in the week’s closes: the S&P 500 finished 0.1% lower while the Nasdaq added 0.7%. Chip stocks fell on Monday after AI lab chiefs called for slowing down new models, and had recovered by Thursday.