US stocks fell for a third straight session on Thursday, September 10, as oil…

US stocks fell for a third straight session on Thursday, September 10, as oil prices climbed further and a hot inflation reading added to worries about the Federal Reserve's next move. Brent crude, the global oil-price benchmark, hit its highest level since July as fighting between the US and Iran continued to threaten Middle East supply routes. Wholesale prices, measured by the producer price index (a gauge of inflation before it reaches store shelves), rose 0.4% in August, matching forecasts but still raising concern ahead of Friday's more closely watched consumer inflation report. The Dow Jones Industrial Average fell 0.6% to 52,064.46, the S&P 500 lost 0.58% to 7,591.79, and the Nasdaq dropped 0.65% to 26,081.73. The 10-year Treasury yield, which affects borrowing costs across the economy, climbed to its highest level in a decade. Individual stocks told very different stories: two companies that beat earnings estimates were punished anyway over weaker underlying numbers, while a small defense contractor soared on a blowout quarter. Apple shares were little changed a day after unveiling its first foldable iPhone, suggesting investors are still waiting to see how well it sells.

Philippine stocks snapped a three-day winning streak on Thursday, September 10, as rising global oil prices weighed on sentiment. The PSEi, the benchmark index tracking the Philippines' 30 largest listed companies, fell 0.28%, or 17.30 points, to close at 6,099.23. Analysts said the pullback came as Brent crude - the global oil benchmark - crossed $100 a barrel again amid ongoing Middle East tensions, making foreign investors hesitant to commit fresh money since pricier oil adds to inflation risk in an already high interest-rate environment. The peso also gave back some of Wednesday's gains, weakening slightly to close at ₱62.535 against the US dollar. More stocks fell than rose on the day, though the index's most heavily weighted member, port operator ICTSI, actually gained - it was conglomerates like SM, Ayala Corp, JG Summit, and GT Capital that dragged the broader market lower. Trading value strengthened compared to the previous session, suggesting investors were more active even as sentiment stayed cautious.

Thursday's move in US markets ties closely to what happened in the Philippines. Both markets were pressured by the same story: Brent crude oil crossing $100 a barrel again as US-Iran tensions persist. Since the Philippines imports nearly all its oil and pays in US dollars, pricier crude pushes up costs for local businesses and consumers alike, which is exactly why Philippine investors turned cautious. Meanwhile, the rise in US Treasury yields, now at decade highs, makes US assets more attractive to global investors relative to emerging markets like the Philippines - part of why the peso struggled again on Thursday even after catching a brief break earlier in the week. There's a business-culture parallel too: as US companies like American Eagle and Cooper Companies got punished for weak underlying growth despite technical earnings beats, it's a reminder that investors increasingly look past one-time boosts (like tax refunds) to focus on core business health - the same discipline Philippine investors showed by favoring proven index heavyweights like ICTSI over broader holding-company exposure this week.