Good evening.
Markets climb, the fourth quarter (Q4) begins, and the stock market suffered its worst September in two decades.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks surged on Monday, kicking off the first trading day of October and the fourth quarter.
Brutal September. The S&P 500 last month fell 9.3%, the worst September on record since 2002 and the dot-com bust.
Global markets have sustained deep losses this year as the Federal Reserve and other central banks raise interest rates aggressively to combat inflation.
Investors hope the last few months of the year will see some relief for markets after a painful year.
The crypto market climbed on Monday, with Bitcoin hovering near the psychologically important $20,000 level.
Catch Up
$315 billion. That's how much tech billionaires have lost in the past year, due to declining stock prices.
Just 32 companies have launched initial public offerings (IPOs) this year, down 88% from 2021.
Russia's invasion of Ukraine is estimated to cost the global economy $2.8 trillion in lost output by the end of 2023.