The US Federal Reserve began its two-day policy meeting on September 15, with markets pricing in a near-certain 25-basis-point interest rate hike to combat inflation running at 3.4% annually.
Oil prices jumped and US bond yields hit 5.04% as investors braced for the Fed move, while equities retreated on Wall Street ahead of the decision.
In the Middle East, Israeli forces killed a Hamas battalion commander in northern Gaza in a strike on September 15, escalating ground operations.
Iran’s air defences reportedly shot down a third US drone over the Strait of Hormuz, heightening tensions in the vital shipping corridor.
Houthi forces in Yemen advanced toward strategic islands near Bab al-Mandeb, threatening one of the world’s busiest maritime trade routes.
Saudi Arabia launched dozens of air strikes against Houthi positions as Yemen’s internationally recognised government accused the group of civilian killings.
US Energy Secretary Chris Wright said oil flows through Saudi Arabia’s East-West pipeline would resume within days after last week’s attack.
Israel’s far-right minister threatened to revoke the citizenship of filmmakers behind a Gaza documentary accusing the army of mass civilian killings.
Canada and the European Union moved to forge a “unique alliance” to counterbalance US-China dominance, with Prime Minister Mark Carney signalling deeper trade and defence ties.
EU leaders prepared a major policy speech on September 15 outlining priorities on AI regulation, climate recovery after summer wildfires, and online child safety.
Russia’s “recklessness” was highlighted by Ukraine’s President Zelenskyy, who stressed that Russia is at war with Ukraine and potentially with wider Europe.
The World Circular Economy Forum opened in Gandhinagar, Gujarat, on September 15, with over 2,000 stakeholders from 65 countries discussing sustainable growth.
Gold prices in India climbed ahead of Ganesh Chaturthi, with 24K gold at ₹15,458 per gram on September 13, reflecting festive demand.
Piramal Pharma’s UK facility received seven USFDA observations after an inspection between September 3–11, raising compliance questions for Indian pharma exports.
The Gates Foundation warned that AI could widen global inequality and pledged $1 billion to improve access in low-income nations.
Global markets remained volatile as Brent crude hovered near $107 a barrel following Houthi attacks on Saudi infrastructure and naval clashes involving US and Iranian-linked vessels.
India’s wholesale inflation rose to 9.92% in August 2026, driven by food and fuel prices, complicating the RBI’s policy outlook.
Retail inflation in India stood at 4.82% in August, with food prices pushing the index higher despite some base effects.
The Indian rupee fell 33 paise to 94.82 against the dollar, pressured by aggressive dollar buying and elevated oil import costs.
Sensex closed down 777 points at 74,668 and Nifty slipped to 23,118 as crude fears and Fed jitters dragged Indian markets into the red.
