Trump, Xi to attend state dinner after White House meeting
Trump greeted China's Xi at Joint Base Andrews, marking the U.S. president's first time traveling to the facility to welcome a foreign leader.
CNBC
Daily Brief
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Friday, September 25, 2026
Today's Brief
Today’s Key Insight
Geopolitical friction in the Middle East, marked by the ongoing US-Iran conflict and fresh Houthi attacks on Saudi oil facilities, continues to exert upward pressure on energy prices and global bond yields. As of September 24, WTI crude rose to 93.93 dollars and the US 10-year yield climbed to 5.16 percent, driving US mortgage rates past the 7 percent threshold. This persistent high-rate environment is beginning to test the resilience of global asset markets, even as diplomatic channels remain active with high-profile US-China meetings.
Market Overview
Korea. The Korean stock market was closed for the Chuseok holiday, with the latest available data from September 23 showing the KOSPI at 7,080.92 and the KOSDAQ at 844.48. Despite the holiday lull, domestic real estate concerns persist as experts warn that rising US Treasury yields and high oil prices could weigh on premium districts like Gangnam, even though Seoul housing prices have recorded an 85-week rising streak.
US. US equity markets closed mixed on September 24, with the Dow falling 0.31 percent while the Nasdaq edged up 0.01 percent, reflecting investor caution amid rising yields. The US 10-year Treasury yield rose to 5.16 percent and the VIX volatility index increased by 3.23 percent, signaling growing unease over geopolitical risks and mortgage rates surpassing 7 percent.
Cross-Market Signals
- Geopolitical Conflict and Energy Markets: Renewed Houthi attacks on Saudi ports and the US-Iran war have pushed WTI crude up 1.92 percent to 93.93 dollars as of September 24, reinforcing inflationary pressures.
- Sovereign Yields and Mortgage Rates: The rise in the US 10-year yield to 5.16 percent has pushed US mortgage rates above 7 percent, threatening to cool housing demand and pressure global real estate valuations.
- Currency and Risk Offsets: A stronger Dollar Index at 101.27 and a 0.90 percent rise in the USD/KRW rate to 1,362.50 as of September 24 reflect a flight to safety as geopolitical tensions simmer.
Markets as of 2026-09-24 close 🔴 Risk-Off
VIX +3.2% ↑ · USD/KRW +0.9% (달러 강세)
🏛️ KRX closed today — 추석 연휴
S&P Sectors
Tech -0.3%
Finance -0.0%
Health +0.6%
Energy +0.4%
Industrial -0.8%
Staples -0.9%
Utilities -1.0%
Real Estate -0.5%
Materials -1.2%
Comms +1.3%
Discretionary -0.3%
World
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Mortgage rates have just surpassed 7% for the first time in well over a year
Rates have climbed more than a full percentage point since the U.S. war against Iran started.
NPR
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Saudi reports fresh Houthi attacks as France pledges to defend key oil port
Saudi Arabia intercepted Houthi ballistic missiles on Thursday after warning several regions, including Mecca, of possible attacks. France said it would send military assets to help protect the Saudi oil terminal at Yanbu. The strikes came amid renewed fighting in Yemen that has killed dozens, according to sources cited by AFP.
France 24
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Live: Iran's President Pezeshkian says US ‘must choose’ whether to end war
It is for the United States to choose whether to end its war in Iran as Tehran does not wish to continue fighting, Iranian President Masoud Pezeshkian told Fox News in an interview aired Thursday. Pezeshkian took a defiant stand at the UN Wednesday, for which he travelled to New York, telling the world that Iran would not "bend at the knee" to Washington Follow our liveblog for the latest updates.
France 24
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Netanyahu, at UN, calls accusations of genocide in Gaza ‘the biggest lie of the century’
Allegations of Israeli genocide in Gaza are not only false but “the biggest lie of the century”, Prime Minister Benjamin Netanyahu told world leaders on Thursday in a defiant speech that asserted his nation’s right to wage war against Iran – a speech that was not heard by scores of delegates who trooped out before he started speaking. Netanyahu, his voice rising in emphasis, said attacking Iran “was one of the easiest decisions I’ve ever had to make” and denounced as “moral cowards” a mass of...
SCMP
Korea
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'Unlimited' Climate Card 30-Day Pass to Disappear... Must Switch to 'Climate Companion Pass' in October
The 30-day Climate Card, which allowed unlimited use of Seoul's public transportation for a month at a fixed price, will disappear at the end of September. Starting in October, switching to the "Modu Card" based on the government's K-Pass will allow users to receive transportation benefits by getting a refund on a portion of their transportation expenses. According to the Seoul Metropolitan Government on the 25th, the prepaid 30-day Climate Card can only be used until the 29th, and the postpaid 30-day Climate Card until the 30th. The Climate Card is an unlimited transit pass introduced by the Seoul Metropolitan Government in 2024 for the first time in the country to reduce the burden of transportation costs on citizens and increase the use of public transit. It has been operated as a 30-day pass and a short-term pass that allows unlimited use of Seoul subways and buses for a certain period. However, because it could only be used mainly in Seoul, there were limitations to using it in the metropolitan area. To resolve this issue, the government introduced the K-Pass, a nationwide public transportation fee refund system, and expanded benefits this year with the Modu Card, which adds the concept of unlimited use, leading to the co-operation of a transportation support system similar to the Climate Card. Since then, Seoul...
동아일보
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"The Upward Trend is Not Over"... Seoul Housing Prices After Chuseok as Seen by Experts
Nam Hyuk-woo, a researcher at the Woori Bank Real Estate Research Institute, said, "The Gangnam 3-gu area is shrinking due to policy uncertainty from the tax reform bill and concerns over prolonged high interest rates, such as rising international oil prices and US Treasury yields," adding, "Price-adjusted properties from buyers looking to move to Gangnam 3-gu..."
한국경제
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President Lee: "I Will Shine a Light on the Lives of All Citizens, Regardless of Differences in Thoughts"
Released a Chuseok greeting video with First Lady Kim Hye-kyung: "It is an honor to be with the people of Korea." On the 25th, President Lee Jae-myung, along with his spouse Kim Hye-kyung, delivered holiday greetings to the public for Chuseok. President Lee...
매일경제
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Rising Interest Rates and Blocked Loans Can't Stop It... Seoul Housing Prices Rise for '85 Weeks', the Longest Streak
In June 2020, when the previous longest upward trend began, the Bank of Korea's base interest rate was 0.5% per annum. It then rose to 0.75% in August 2021 and 1% in November, and was 1.25% in January 2022 when the bull market ended. On the other hand, when Seoul housing prices turned upward in February last year, the base interest rate was 2.75...
머니투데이
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'The Patriot Who Could Not Return'... VANK Highlights Yi Sang-seol for Chuseok
(Seoul=Yonhap News) Reporter Seong Do-hyeon = On the occasion of Chuseok on the 25th, the cyber diplomatic mission VANK (led by Park Ki-tae) highlighted those who left their hometowns and ultimately could not return to their liberated homeland...
연합뉴스