Stocks Fall as Oil Rally Keeps a Lid on Treasuries

0 October 23, 2026 17:04

A resurgence in oil prices dragged down stocks and bonds, stoking concerns about inflation just days ahead of the Federal Reserve decision on interest rates. Brent crude topped $116 as a flare-up in Middle East violence threatened global supplies. The S&P 500 saw back-to-back losses. That’s even as selling pressure on tech firms abated. A gauge of chipmakers rebounded, while still heading toward its longest weekly slide since November. Treasury yields rose after the market’s best day in more than a year. Joe Weisenthal, Bloomberg ‘Odd Lots’ Podcast Co-Host, joins to wrap up the week in markets ahead of the next Fed decision and more tech earnings. Then, Jayati Bharadwaj, Head of FX Strategy at TD Securities, weighs in on a rush to safe haven trades. Plus, Dina Bass, Bloomberg News AI Infrastructure Reporter joins to discuss her reporting on Blackstone’s bet on chips driving a debt boom, and Jane Street’s fight for AI power. Finally, Zscaler CEO Jay Chaudhry on internet security in light of new PHP vulnerabilities across the web.

Chapters:
00:00:00 Bloomberg Businessweek Daily
00:02:35 Trump, Canada Tariffs & the Market
00:05:26 AI Spending, Demand & Growing Risks
00:08:09 Where Is the AI Productivity Payoff?
00:10:10 AI’s Growing Importance to the U.S. Economy
00:12:58 Treasuries & the Safe Haven Trade
00:15:02 Global Markets Look Beyond U.S. Tech
00:16:56 Higher Rates, Commodities & the AI Trade
00:21:12 Is AI in a Bubble?
00:23:02 The $1 Trillion AI Debt Boom
00:25:29 AI Chips, Data Centers & Profitability
00:29:46 Jane Street’s Race for AI Power
00:34:28 AI Creates New Cybersecurity Threats
00:37:06 PHP Vulnerabilities & Zero-Trust Security
00:42:32 Markets: Oil, Yields & Stocks
00:44:10 Stock Movers: Bloom Energy, GM & Cybersecurity
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