What are today's top business/market headlines?

Here's a roundup of the top business and market headlines as of today, September 24, 2026:

Markets Selling Off on Inflation & Rate-Hike Fears
US stocks fell sharply Wednesday, with the Dow Jones Industrial Average dropping 0.7%, the S&P 500 declining 0.8%, and the Nasdaq Composite falling 1.1% after the tech-heavy index had posted back-to-back record highs earlier in the week. The selloff came as Treasury yields surged amid inflation worries, while investors monitored US diplomatic efforts with Iran and China. Asian markets and futures were set to extend the decline into Thursday, as stocks and bonds in Asia were set to decline, tracking Wall Street losses as an oil rally and stronger-than-expected US economic data fueled inflation concerns and bets on further interest-rate hikes.

Treasury Yields Hit Multi-Decade Highs
A major story driving markets is the bond market turmoil — the 10-year Treasury yield spiked above 5.11%, its highest level since 2007, as oil prices climbed and the S&P's gauge of US business activity expanded more than economists expected. This has had real-world consequences: yields on U.S. Treasury bonds jumped and oil prices rose, sending stocks tumbling as investors braced for the prospect of future Fed rate hikes, with the 10-year yield rising as high as 5.13%. Mortgage rates followed suit, as the average 30-year fixed mortgage rate jumped to 7.26% — the highest point since Jan. 13, 2025, and of President Trump's second term.

Oil Prices Rallying
Energy markets remain a key driver of the broader market narrative, with rising crude prices reigniting inflation fears that are pushing yields higher across the board.

Global Debt Hits Record $365 Trillion
In a notable macro report, global debt climbed to a record $365 trillion in the first half of 2026, as governments and companies continued heavy borrowing and higher rates raised the cost of carrying the enormous load. According to the Institute of International Finance, advanced economies spent more than $3.5 trillion on interest payments on internationally traded bonds over the 12 months through the first half of 2026 — more than they spent on AI, defense, or energy combined.

Geopolitics in Focus: Trump-Xi Meeting & Iran Diplomacy
Markets are closely watching diplomatic developments, with Trump expected to greet Xi Jinping at Joint Base Andrews, kicking off the Chinese leader's first U.S. state visit in 11 years. Meanwhile, tensions with Iran remain elevated after Trump warned during his UN General Assembly address that he could "annihilate" Iran if negotiations fail, though there were signs of progress as U.S. and Iranian officials met for three hours during the UN gathering, which Trump described as a "very good meeting."

Corporate/Sector Highlights

Currency & Commodities
The yen, near a three-week low, is in focus as Japanese markets reopen, while bond markets across the Asia-Pacific region are also under pressure, following the broader Treasury selloff.

Overall, the dominant theme is a shift from tech-driven optimism earlier in the week to renewed inflation anxiety, as surging oil prices and hot economic data raise the specter of additional Fed rate hikes — sending both stocks and bonds lower into Thursday's session.