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5 Things to Know Today — Fed Hikes, BoE Warns, and the TSX Is Bouncing Back

  The Fed's first rate hike since 2023 rocked markets Wednesday. Here's what it means for your wallet on Friday, September 18. Friday, September 18, 2026  |  moneysavings.ca 1 The Fed Hiked — First Time Since 2023 The U.S. Federal Reserve raised its benchmark interest rate by 25 basis points to a target range of 3.75%–4.00% on Wednesday — the first hike since June 2023. Chair Kevin Warsh cited persistent inflation tied to elevated oil prices and a still-resilient economy, saying recent inflation readings hadn't improved enough to justify holding. The decision was unanimous. The updated dot plot signals one more potential hike by year-end, then a pause through 2027. Markets initially sold off, but U.S. futures are rebounding this morning as investors reframe the move as a sign the Fed is serious about getting inflation under control. 💡 What It Means for You A higher U.S. federal funds rate puts upward pressure on Canadian bond yields and mortgage rates. The BoC is already...
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Stock Market Slump: Dow, Nasdaq, and S&P 500 Slide as Treasury Yields Hit Highest Level Since July

 

The U.S. stock market experienced a notable downturn today as the Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 all recorded losses. This decline comes amid rising Treasury yields, which have reached their highest levels since July.

The S&P 500 dropped over 0.5%, while the Dow Jones Industrial Average fell by more than 120 points, or approximately 0.3%. The tech-heavy Nasdaq Composite also slid by around 0.6%.

Investors are reacting to a recent bond-market selloff and are bracing for the upcoming wave of earnings reports. The 10-year Treasury yield steadied around 4.2% after Monday’s sharp gains pushed it above this level for the first time in months.

The market’s performance is being influenced by growing doubts about the Federal Reserve’s future interest rate decisions. Strength in the economy, cautious statements from Fed officials, and concerns about the fiscal impact of the upcoming presidential election are contributing to the uncertainty.

Despite the broader market decline, some companies have shown resilience. General Motors, for instance, raised its guidance for the third time this year, thanks to strong electric vehicle sales, which helped the company beat quarterly profit and revenue expectations.

As investors navigate these turbulent times, the focus remains on the Federal Reserve’s next moves and the ongoing earnings season, which could provide further insights into the market’s direction.


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