{"id":72052,"date":"2026-09-21T11:38:13","date_gmt":"2026-09-21T15:38:13","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-react-to-us-trade-policy-rising-oil-and-middle-east-tensions\/72052\/"},"modified":"2026-09-21T11:38:13","modified_gmt":"2026-09-21T15:38:13","slug":"global-markets-react-to-us-trade-policy-rising-oil-and-middle-east-tensions","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-react-to-us-trade-policy-rising-oil-and-middle-east-tensions\/72052\/","title":{"rendered":"Global Markets React to US Trade Policy, Rising Oil, and Middle East Tensions"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Bank of Canada Governor Tiff Macklem warns that Q4 growth could be halved<\/strong> if new US tariffs remain in place, highlighting severe economic risks for Canada.<\/li>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/AMD\" data-internallinksmanager029f6b8e52c=\"16\" title=\"stock: AMD\">AMD<\/a> (<a href=\"\/stock\/AMD\">AMD<\/a>) achieved a historic $1 trillion market capitalization<\/strong> for the first time, signaling continued investor confidence in the semiconductor sector.<\/li>\n<li><strong>US Strategic Petroleum Reserve (SPR) stocks fell to 284.6 million barrels<\/strong>, the lowest level since 1982, as energy prices remain elevated amid Middle East instability.<\/li>\n<li><strong>The US and China are negotiating a trade truce extension<\/strong>, with Washington proposing six months while Beijing pushes for a longer duration.<\/li>\n<li><strong>Iran has set seven conditions for a return to negotiations<\/strong>, including the release of frozen assets and an end to the US blockade, according to reports from Tehran.<\/li>\n<\/ul>\n<h2>Macklem Warns of Tariff Impact on Canadian Growth<\/h2>\n<p>Bank of Canada Governor Tiff Macklem delivered a sobering assessment of the Canadian economy, stating that <strong>Q4 growth could be roughly halved<\/strong> if new US tariffs are not rescinded. Speaking on &quot;Navigating Uncertainty and Adapting to Change,&quot; Macklem noted that while many Canadian businesses have begun to adapt, the trade barriers pose a significant headwind to the national outlook.<\/p>\n<p>Inflation remains a primary concern for the central bank, with Macklem expecting <strong>inflation to edge up in the coming months if <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">oil prices<\/a> remain near $100\/bbl<\/strong>. He attributed rising fuel prices to damage in global refining capacity rather than typical market fluctuations. Notably, the BoC expects <strong>labor force growth to be close to zero<\/strong> over the next few years, further complicating the recovery path.<\/p>\n<h2>Tech and Aerospace Milestones<\/h2>\n<p>In a major market milestone, <strong><a href=\"https:\/\/stockmarketwatch.com\/stock\/AMD\" data-internallinksmanager029f6b8e52c=\"16\" title=\"stock: AMD\">AMD<\/a> (<a href=\"\/stock\/AMD\">AMD<\/a>) saw its market cap hit $1 trillion<\/strong> for the first time. The surge reflects the ongoing demand for high-performance computing and AI-driven hardware. The company joins an elite group of tech giants, underscoring the shifting leadership within the semiconductor industry.<\/p>\n<p>Meanwhile, USTR Ambassador Greer confirmed that <strong>Boeing (<a href=\"\/stock\/BA\">BA<\/a>) is making progress on finalizing 200 airplane orders from China<\/strong>. These orders, initially announced earlier this year, represent a critical revenue stream for the aerospace giant as it navigates a complex international trade environment.<\/p>\n<h2>Energy Volatility and Geopolitical Maneuvering<\/h2>\n<p>The US energy landscape faces tightening supply as <strong>Strategic Petroleum Reserve (SPR) stocks dropped to 284.6 million barrels<\/strong>, the lowest level since 1982. Vice President JD Vance attributed elevated energy prices to Iranian influence, though he noted that &quot;oil is still flowing&quot; despite the friction.<\/p>\n<p>On the diplomatic front, <strong>President Trump announced the US is working on a &quot;massive deal&quot; to purchase potash from Belarus<\/strong>. This move appears to be part of a broader strategy to secure agricultural inputs while managing complex Eastern European relations.<\/p>\n<h2>US-China Trade and Iranian Negotiations<\/h2>\n<p>Tensions between Washington and Beijing remain high as the two superpowers engage in what observers describe as &quot;shin-kicking under the table.&quot; The <strong>US has proposed a six-month extension to the current trade truce<\/strong>, but China is reportedly pushing for a longer-term commitment to ensure market stability.<\/p>\n<p>Simultaneously, a new diplomatic initiative is emerging from Tehran. <strong>Iran has communicated seven conditions for returning to the negotiating table<\/strong>, including the lifting of the US blockade and the release of frozen assets. While these conditions are reportedly non-nuclear, the involvement of Qatari and Pakistani mediators suggests a renewed effort to de-escalate regional conflict ahead of the UN General Assembly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Bank of Canada Governor Tiff Macklem warns that Q4 growth could be halved if new US tariffs remain 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