US stocks pulled back modestly Tuesday, with the Dow falling 131.59 points (0.26%) to 51,349.92, the S&P 500 slipping 0.16% to 7,670.84, and the Nasdaq easing 0.09% to 26,797.54. Bank stocks led the declines, JPMorgan Chase, Morgan Stanley, and Bank of America all fell, as a Treasury selloff pushed the 10-year yield above 5.29% intraday. A Federal Reserve official speaking in Buffalo offered some reassurance, saying that after September's rate hike, "there is no need for urgency, and we have time to gather more information," suggesting the Fed isn't in a rush to tighten further. Still, sentiment stayed shaky: US consumer confidence data came in well below expectations, hitting a multi-year low as households weighed elevated borrowing costs, the ongoing US-Iran conflict now in its seventh month, and lingering anxiety around AI. Chinese EV maker XPeng fell 4.2% to a 52-week low after JPMorgan downgraded the stock to neutral from overweight, citing headwinds expected to show up in its fourth-quarter results.
Daily Digest ·
US stocks pulled back modestly Tuesday, with the Dow falling 131.59 points…
What moved Wall Street and the PSEi, and what it means for your money, in plain language.
Today, in Two Lines
The day’s biggest story in each market.
US stocks pulled back modestly Tuesday, with the Dow falling 131.59 points (0.26%) to 51,349.92, the S&P 500 slipping 0.16% to 7,670.84, and the Nasdaq easing 0.09% to 26,797.54.
The PSEi extended its losing streak to a second straight session Tuesday, falling 50.47 points, or 0.87%, to close at 5,738.40, as rising US Treasury yields and persistent US-Iran tensions kept investors defensive.
US & PH Markets at Last Close
Where each market finished its most recent trading session before this issue went out.
US markets
| S&P 500 | 7,670.84 -0.17% |
| Dow Jones | 51,349.92 -0.26% |
| Nasdaq | 26,797.54 -0.09% |
| 10-Yr Treasury Yield | 5.26% |
Philippine markets
| PSEi | 5,738.40 -0.87% |
| USD/PHP | 62.45 +0.13% |
| BSP Rate | 5.00% |
Winners & Losers
The stocks that moved most, and why.
USUnited States
- XPEV XPeng-4.2%
JPMorgan downgraded the Chinese EV maker to neutral from overweight, citing headwinds it expects to hit Q4 results
- JPM JPMorgan Chase(declined)
Part of a broader bank-sector slide as Treasury yields surged
PHPhilippines
- RCR RL Commercial REIT-4.62%
Today’s Full Story
USUnited States
PHPhilippines
The PSEi extended its losing streak to a second straight session Tuesday, falling 50.47 points, or 0.87%, to close at 5,738.40, as rising US Treasury yields and persistent US-Iran tensions kept investors defensive. Regina Capital's Luis Limlingan said the market stayed cautious over the impact of elevated crude prices and a weaker peso on the domestic economy and corporate earnings. The peso weakened 2 centavos to ₱62.565 per US dollar, extending its retreat from Monday's ₱62.545 close. All PSEi sectors declined, led by industrials, down 1.20%. Only six index members advanced; trading was relatively subdued at ₱5.25 billion in turnover, with foreign investors net sellers of ₱973.48 million.
US–PHHow US news affects the Philippines
The same Treasury yield surge that hit US bank stocks Tuesday, the 10-year topped 5.29% intraday, flowed directly into the Philippines, extending the PSEi's losing streak to a second session as higher US yields make Philippine borrowing costlier and add pressure on the peso, which weakened again to ₱62.565. Rate-sensitive names took the brunt of it locally: RL Commercial REIT, a real estate investment trust whose valuation depends heavily on borrowing costs, was Tuesday's worst PSEi performer at -4.62%, while industrials led the broader sectoral decline. One reason for cautious optimism, though not yet reflected in the peso: a Fed official in Buffalo signaled the central bank isn't rushing to tighten further after September's hike, saying policymakers "have time to gather more information." Worth watching: whether that "no urgency" tone holds through October, since a pause in US hikes would ease the exact pressure that's been weighing on the peso and Philippine borrowing costs all month.
Sa Taglish
Yung parehong surge sa Treasury yields na tumama sa mga bank stocks sa US last Tuesday, umabot ng 5.29% yung 10-year yield sa loob ng araw, direktang dumaan din dito sa Pilipinas, kaya tumuloy-tuloy ang pagbagsak ng PSEi sa second straight session, dahil mas mataas na US yields ay mas mahal din para sa atin ang mangutang, tapos dagdag pressure ito sa peso natin, na humina ulit papuntang ₱62.565. Yung mga rate-sensitive names, sila yung pinaka-tinamaan dito, yung RL Commercial REIT, na isang real estate investment trust na sensitive talaga sa borrowing costs, ang pinaka-bumagsak sa PSEi kahapon nang -4.62%, habang yung industrials naman ang pinaka-bumagsak sa mga sectors. May konting magandang balita naman, kahit hindi pa nakikita sa peso: isang Fed official sa Buffalo, sinabi niyang hindi nagmamadali ang Fed na mag-hike ulit after ng September hike nila, kasi may oras pa raw sila para mag-gather ng mas maraming impormasyon. Bantayan natin kung tuloy-tuloy itong "no urgency" na tono nila hanggang October, kasi kung talagang mag-pause ang US sa mga hike nila, gagaan din yung parehong pressure na dumadagan sa peso natin at sa borrowing costs dito sa Pilipinas buong buwan na ito.
USD/PHP
Biggest mover: Russell 2000 -0.35%
What to Watch
- A Fed official in Buffalo signaled no urgency for further tightening after September's hike, worth watching whether that tone holds through October's meeting.
- The 10-year Treasury yield topped 5.29% intraday, its highest in nearly two decades; further increases would add to both US and PH borrowing costs.
- US consumer confidence hit a multi-year low in September, Friday's jobs report will be the next major test of economic sentiment.
- The PSEi remains below the 5,800 level for a second session; watch whether it stabilizes or slides further toward its recent lows.
Sources
The original reporting behind this issue.
US markets
- Stock market news for Sept. 29, 2026
- Stock Market Today (Sept. 29, 2026): S&P 500 Falls on Easing Oil Prices, Treasury Yields
PH markets
Cross US–PH
Terms to know
- Stock
- A tiny piece of ownership in a company. Buying a company's stock means you own a small part of that business.
- Stock market
- The overall marketplace where stocks are bought and sold. When we say 'the market' or show numbers like the S&P 500 or PSEi, we mean a snapshot of how stocks overall are doing that day.
- Interest rate
- The cost of borrowing money, or what you earn for saving it. When rates go up, loans get pricier, but savings can earn a bit more.
- Inflation (CPI)
- When everyday prices rise over time, so the same money buys less than before. CPI is the number used to measure it.
- Fed (Federal Reserve)
- The US central bank. It sets interest rates, which affect how expensive it is to borrow money, even here in the Philippines.
- BSP (Bangko Sentral ng Pilipinas)
- The Philippine central bank, PH's equivalent of the Fed.
- PSEi
- A single number that tracks how the Philippines' biggest company stocks are doing overall, like a report card for the PH stock market.
- bps (basis points)
- A small unit for measuring interest rate changes: 100 bps = 1%. Used because rate changes are usually tiny.
- 10-Yr Yield
- The interest rate the US government pays to borrow money long-term. When it rises, loans and mortgages tend to get pricier everywhere, not just in the US.
- USD/PHP
- How many pesos it takes to buy one US dollar.
- OFW remittances
- Money sent home by overseas Filipino workers, a key driver of peso demand.
Summaries, mover explanations, and forward-looking notes in this issue are AI-written from real market data and sourced news. Not financial advice.