Economics/Class Relations

Wall Street’s war fears

October 10, 2023 • 5 min read
with Dan DeFrancesco
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In today’s big story, we’re looking at the impact the Hamas-Israel conflict will have on the broader global economy.

What’s on deck:
But first, unrest in Israel.


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Yasser Qudih/Getty Images
The big story
What comes next

After Hamas’ unprecedented assault on Israel, the world is watching to see how the war will reverberate around the globe.


The initial attack, which some described as “Israel’s 9/11,” and Israel’s response have already led to hundreds of deaths among Israelis and Palestinians. For more on why Hamas attacked Israel after decades of conflict, it’s worth reading Tom Porter’s insightful analysis.


Beyond the loss of human life, which is always the most significant toll paid during these events, there are countless knock-on effects.


Here’s a breakdown of what the Hamas-Israel war could mean for everything from the oil market to social media:

Said Khatib/AFP via Getty Images
3 things in


🔔 Before the opening bell: US stock futures rise early Tuesday as investors assess the impact of the Israel-Hamas conflict.


Chip Somodevilla/Getty Images
1. US Treasury Secretary Janet Yellen: The bond market is just fine. Despite the market’s massive sell-off and spiking yields, Yellen said it’s business as usual. There is no “evidence of dysfunction” regarding how the market is operating, she said Monday.


2. US stocks are too pricey for billionaire Ray Dalio. The founder of Bridgewater Associates highlighted mounting debt, political infighting, and geopolitical risks as reasons investors should be cautious. “Over the next year, we will have a great political conflict,” he predicted.


3. This bull market isn’t turning heads. The stock market rally since October 2022 has been one of the weakest bull markets on record. Elevated valuations and monetary tightening policies have kept things from taking off.

3 things in
Dadu Shin for Insider
1. Big Tech made America lonely. Technology made staying home a lot easier: shopping, watching movies, and even eating outside food. This convenience has diminished our social connections. Although tech contributed to this problem, the industry has an opportunity to help solve the “antisocial epidemic,” Lyft CEO David Risher writes for Insider.


2. Meta is reportedly paying celebrities as much as $5 million for six hours of work. The tech giant hired a variety of celebs for its AI chatbots, including MrBeast, Kendall Jenner, Naomi Osaka, Charli D’Amelio, and Tom Brady. And Meta reportedly shelled out big bucks for the big names.


3. The AI 100 2023: The top people in artificial intelligence. The list ranges from people pushing boundaries in the field to those who are trying to ensure that AI develops steadily and responsibly. Meet them all here.

3 things in
1. All the best October Prime Day deals. The live blog tracks the hottest deals across tech, home, kitchen, and more.


2. CEO Bob Iger is under more pressure to break up Disney. Activist investor Nelson Peltz has reportedly upped his stake in the company. This could mean Disney is on track to sell assets like ESPN and ABC.


3. The surge in energy-hungry data centers is delaying green energy pushes. In Phoenix, data centers have attracted attention for the noise they blare, the water they guzzle, and the swaths of land they’ve consumed. Now, it’s impeding green efforts to end the use of fossil fuels.


In other news



What’s happening today
  • It’s the first day of the National Hockey League regular season. There are three games today: Seattle Kraken vs. Vegas Golden Knights, Nashville Predators vs. Tampa Bay Lightning, and Chicago Blackhawks vs. Pittsburgh Penguins.
  • Amazon Prime Big Deals Days (also known as the October Prime Day) kicks off today. The two-day sale spans 19 countries and you can expect to see deals across different categories. Follow our live blog for all the best deals.
  • Earnings today: PepsiCo and other companies.


Brady MacDonald/Insider
For your bookmarks
Delta’s LAX Sky Club
Photos show Delta’s LAX Sky Club, which overlooks Hollywood Hills. It’s filled with LA-themed art and boasts amenities like a gelato machine, candy stand, and nacho/taco bar.
The Insider Today team

Dan DeFrancesco, senior editor and anchor, in New York City. Diamond Naga Siu, senior reporter, in San Diego. Hallam Bullock, editor, in London. Lisa Ryan, executive editor, in New York.


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