What are today's top business/market headlines?

I'll pull today's top business and market headlines for you.

Top Business / Market Headlines for today - Saturday, October 10, 2026 (covering Friday's close, as markets closed weekend):

U.S. Markets - Volatile, Trade War Fears Return:

•Wall Street closed deep in the red as profit-taking and risk aversion swept the board. The Nasdaq plunged 3.5%, marking its sharpest daily decline in months, while the S&P 500 and Dow followed suit. Cryptocurrencies also sold off, with Ethereum down roughly 8% since the session opened.

•In a separate session summary: The S&P 500 dropped 1.16% to 6,721.43, the Nasdaq Composite fell 1.81% to 22,693.32, and the Dow Jones Industrial Average slipped 228.29 points, or 0.47%, to settle at 47,885.97. This marked the fourth consecutive negative day for the S&P 500 and the Dow.

•Another Dow Jones wrap noted Wall Street stocks had sold off sharply - The Dow Jones Industrial Average (.DJI) had closed down 1.90% while the S&P 500 (.SPX) finished down 2.71%, and the Nasdaq Composite (.IXIC) lost 3.56% on the day, with NVDA, Tesla, Amazon.com and Advanced Micro Devices all fell more than 2% after the bell.

•The causes were President Trump's comments hinting at new tariffs, a mix of renewed US-China tensions reignited trade war fears.

•With the U.S. government shutdown extending, metals rallying to record highs, the US Dollar making a comeback, and many mentions of overstretched equity valuations.

•The BLS will publish the CPI data on the 24th of October.

•More recently, U.S. stocks edged higher, with the Nasdaq seemingly shaking off concerns about the pace of AI growth that weighed on tech stocks Thursday.

Global Markets - Asia Mixed:

•Markets in Asia-Pacific made very modest gains after recent heavy losses at the start of the week. Mainland China and Hong Kong indices closed slightly higher after a bright start faded at the close. Japan's Nikkei was also in positive territory after a mixed session. South Korea lost ground after trading resumed following a public holiday, with the Kospi falling over 1% to 2228 points.

Top Business / Economic Headlines (Dow Jones / Morningstar 11 AM ET Roundup Oct 9-10):

•Trump Announces White House Hearing to Investigate Fed's Lisa Cook - A committee will evaluate the mortgage-fraud allegations made against Cook.

•Consumer Sentiment Drops, per Michigan Survey - The University of Michigan survey's headline index fell to 46.3 in its preliminary October reading, versus 48.1 in September.

•Canada Jobless Rate Edges Up With Another Drop in Employment - Canada's economy unexpectedly shed jobs for a second month running, nudging the unemployment rate up. Employers cut 68,300 jobs in September, Statistics Canada said.

•Oil Prices Retreat After Trump Appears to Rule out Iran Strikes Before Midterms - Oil fell Friday after surging the previous day, as traders weighed Trump's pledge not to attack Iran before the U.S. midterm elections against persistent shipping risks in the Persian Gulf.

•China, EU Move Forward on Trade Relationship Talks - China and the EU said they reached an understanding on hybrid vehicles and progressed trade talks in other areas.

•Scrapped IPO of Nvidia-Backed Company Points to Limits of AI Boom - Australian cloud-computing firm Firmus Grid had sought a $30 billion valuation despite having only two operational data centers.

•U.S. Budget Deficit Jumps to Nearly $2 Trillion - U.S. finances are stuck in a rut that alarms policymakers, but hasn't moved them to change course.

Context - Rates and Jobs:

•Unemployment, September: 4.2% (7.1 million) - Was 4.1% in the August release.

•Fed funds target: 3.75%–4.00% - +25 bps on September 16, unanimous. Prime 7.00%. Next meeting October 27–28.

Citations (2)

1marketpulse.comNot yet classified
The Trade War is back – A bloody session for Wall Street – Market wrap for the North American session - October 10
Backs: “Top Business / Market Headlines for today - Saturday, October 10, 2026 (covering Friday's close, as markets closed weekend): U.S. Markets - Volatile, Trade War Fears Return: Wall Street closed deep in the red as profit-taking and risk aversion swept the board.”
2morningstar.comData and tools
Dow Jones Top Markets Headlines at 11 AM ET: Trump Announces White House Hearing to Investigate Fed's Lisa Cook | Consumer ...
Backs: “The BLS will publish the CPI data on the 24th of October. More recently, U.S. stocks edged higher, with the Nasdaq seemingly shaking off concerns about the pace of AI growth that weighed on tech stocks Thursday.”