Stock Market Recap — Oct 3, 2026
Corporate borrowing costs climb as Meta agrees to $18 billion settlement
Tighter financing conditions and a major technology settlement dominated the equity risk backdrop. Geopolitical tensions added energy uncertainty, although recovering crude shipments tempered supply concerns. Company-specific demand strength offered a counterweight to the broader pressure from debt burdens and regulatory scrutiny. • Corporate Credit: Average US investment-grade yields exceeded 6% for the first time since 2023. Much of Paramount Skydance’s roughly $50 billion debt sale weakened within hours, and other borrowers postponed financing. Investors also warned that falling Oracle shares could weaken Larry Ellison’s financial support for Paramount; Oracle’s long-term debt exceeded $160 billion. • Meta Settlement: Meta agreed to an $18 billion settlement with 48 states, including two-hour daily limits for teenagers on Instagram and Facebook and overnight restrictions on their main feeds. • Iran/Energy: Trump sent another aircraft carrier and 10,000 sailors and Marines toward the region. JPMorgan estimated Middle East crude shipments recovered to 98% of prewar levels, tempering supply concerns. • AI Policy: A White House task force received 120 days to assess AI risks, while officials retained an emphasis on voluntary industry safeguards. • EV Demand: Rivian’s third-quarter deliveries of 19,248 exceeded expectations, supporting signs of improving demand without establishing a broad sales boom.
Intraday Updates
- 01:53 ET: Scope warns on US debt as Trump threatens South Korea over Alaska LNG (39 stories)
- 11:46 ET: Meta agrees to $18 billion settlement as US expands military presence near Iran (38 stories)