Wall Street hits records, oil slides on September 22, 2026

1. WALL STREET RALLIES, NASDAQ SETS RECORD
US stocks surged in the September 21 session. The Dow Jones gained 0.71% to 52,048.83, the S&P 500 rose 1.49% to 7,764.70, and the Nasdaq Composite jumped 2.26% to 27,122.09, a record closing high. The Philadelphia Semiconductor Index climbed 4.29%, its best day since August 4. Meta surged 11.43% on the Muse AI-agent catalyst and a raised price target from Wells Fargo; Intel gained 12% and Qualcomm rose 9%.

2. AMD CROSSES $1 TRILLION MARKET CAP
AMD shares rose approximately 10%, pushing the company's market value above $1 trillion for the first time. The chipmaker became the fourth US semiconductor company to achieve this milestone, after Nvidia, Broadcom and Micron. The move reflects growing investor expectations for AI chip demand and AMD's strengthening competitive position.

3. FED HIKES RATES FOR FIRST TIME IN THREE YEARS
The Federal Reserve raised interest rates last week for the first time in three years, according to Sina. CME FedWatch pricing indicates roughly a 50% probability of another hike next month. St. Louis Fed President Alberto Musalem stated rates may need to rise further, preferably early and gradually, to curb inflation from both demand and supply sides. Chicago Fed President Austan Goolsbee emphasized that if inflation does not ease, the central bank must act clearly and hike. The policy reversal is notable because markets had previously expected the Fed to hold steady or ease.

4. OIL FALLS FOR FOURTH CONSECUTIVE SESSION
WTI crude dropped 3.80% to $91.64 per barrel and Brent fell 2.90% to $100.07 per barrel, according to Jin10. Xinhua reported different figures: US crude fell 4.28% to $91.97 and Brent declined 3.32% to $95.99. The discrepancies reflect differences in contract specifications among sources. The decline stemmed from optimism that Saudi Arabia's damaged east-west pipeline will resume flows quickly and progress in US-Iran diplomacy.

5. EU EXTENDS SANCTIONS ON RUSSIA FOR 36 MONTHS
EU member states agreed to extend sanctions on more than 3,000 Russian individuals and entities for 36 months, while removing two Russian businessmen from the list. The decision demonstrates the EU's firm stance on the Ukraine conflict while also showing room for adjustments regarding specific targets.

6. SOUTH KOREA EXPORTS SET RECORD FOR EARLY SEPTEMBER
South Korea's exports in the first 20 days of September surged 78% year-over-year to $71.4 billion, a record for the period. Semiconductor exports jumped 259% to $34.12 billion, reflecting a strong global chip recovery driven by AI demand from the US and China.

7. US PROPOSES $5BN MIDDLE EAST RECONSTRUCTION FUND
The Trump administration proposed investing $5 billion in a Pact fund to rebuild Middle East energy infrastructure damaged in the war with Iran, seeking matching funds from partners including Saudi Arabia and the UAE for a total of $10 billion. This economic-diplomatic initiative comes amid lingering regional tensions; specific commitments from the parties have not been officially confirmed.

8. BITCOIN TOUCHES 7-MONTH HIGH ABOVE $86,000
Bitcoin rose above $86,000, its highest level in seven months, lifting Coinbase and Strategy shares by more than 4%. The rally reflects renewed risk appetite following the strong session on Wall Street and improving sentiment among cryptocurrency investors.

9. ECB LAUNCHES DIGITAL EURO, CHINA SETS MAJOR MEETINGS
The European Central Bank officially launched a digital euro for interbank tokenized payment transactions, marking a concrete step in the eurozone's digital currency strategy. Meanwhile, according to Jin10, Chinese President Xi Jinping will make a state visit to the US from September 23 to 25; China's Politburo also decided the CPC Central Committee Fifth Plenary Session will be held in Beijing from October 26 to 29.

What to watch today: Leaders' speeches at the United Nations General Assembly and developments in US-Iran diplomatic talks.

*Information compiled for reference, reflecting multiple sources at the time of publication.*