Economy news · 18 October 2026
Global AI and Chip Stocks Shed $1.64 Trillion in Six Sessions as Spending Doubts Deepen
Semiconductor shares posted their longest losing streak since 2008, erasing $1.64 trillion in market value as investors questioned whether massive AI infrastructure spending can generate sufficient returns.
Brent Crude Touches $110 as Iran Attacks Nine Ships in Strait of Hormuz, Sinking Container Vessel
Iran attacked at least nine commercial vessels in the Strait of Hormuz during the week, sinking the Singapore-flagged container ship GFS Pride and driving Brent crude to its highest price since May.
TSMC Posts $46.7 Billion Revenue and 69% Profit Jump in Sixth Straight Record Quarter
Taiwan Semiconductor Manufacturing Company reported its sixth consecutive quarterly record profit, with third-quarter revenue up 41% to $46.72 billion on AI chip demand, and guided fourth-quarter revenue well above Wall Street estimates.
US Annual Budget Deficit Swells to $1.99 Trillion, Largest Shortfall in Five Years
The US Treasury reported a fiscal-year 2026 deficit of $1.99 trillion — up 12% — driven by record debt-service costs of $1.36 trillion and $145 billion in court-ordered tariff refunds, undermining claims of significant spending cuts.
IMF-World Bank Bangkok Meetings Close Warning of Fraying Resilience as Global Debt Nears 100% of GDP
The IMF-World Bank Annual Meetings in Bangkok concluded on October 18 after the Fund raised its 2026 global growth forecast to 3.1% but warned that inflation is rising to 4.7%, public debt is approaching 100% of world GDP, and economic growth has become dangerously concentrated.