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Trump UN speech and Alibaba new AI: How markets react to key events
On September 23, the global agenda was centered on the war in Ukraine, Europe’s energy policy, and new technological breakthroughs. Donald Trump abruptly shifted his rhetoric, declaring that Kyiv could retake all occupied territories, Alibaba unveiled its largest AI model, and Federal Reserve Chair Jerome Powell sparked a rally in gold prices.
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At the United Nations General Assembly in New York, U.S. President Donald Trump made a striking statement that Ukraine is capable of regaining all its lands, including Crimea. According to him, Russia’s economy faces “big problems,” and now is the time for Kyiv to act. At the same time, Trump made another bold remark regarding Europe’s energy policy, saying that Hungary could stop buying Russian energy after he speaks with Prime Minister Viktor Orbán, whom he called a friend.
In Europe, Polish Prime Minister Donald Tusk announced that the country would reopen border crossings with Belarus, which had been closed during the “Zapad-2025” military exercises. According to him, the crossings will resume operations at midnight on September 25. This is also significant for China, which actively routes its goods to the EU through Poland.
Meanwhile, investors focused on comments from Federal Reserve Chair Jerome Powell. He said that asset prices, including equities, are at “elevated levels,” but that this does not currently pose a risk to financial stability. According to Powell, the Fed is carefully monitoring how its policies are affecting financial conditions, and the main challenge now lies in two-sided risks: rising inflation on the one hand and potential labor market weakness on the other.
Chinese tech giant Alibaba, at its annual conference, unveiled the company’s largest-ever AI model, Qwen3-Max. The system boasts over 1 trillion parameters and demonstrates strong capabilities in code generation and autonomous agent systems. Alibaba emphasized that AI is becoming a core business area alongside e-commerce, and the company plans to invest more than $53 billion in the field over the coming years.
The cryptocurrency market also received a notable signal. Tether, issuer of the world’s largest stablecoin, confirmed plans to raise $15–20 billion through a private placement. According to Bloomberg, such a deal could value the company at around $500 billion — on par with OpenAI and SpaceX. CEO Paolo Ardoino said the funds would be used to expand across several sectors, from stablecoins and AI to energy and commodity trading.
Market Reaction
Oil futures saw modest gains on Tuesday following Trump’s UN remarks. U.S. WTI crude rose to $63.61 per barrel (+0.2%), while Brent climbed to $67.81 (+0.18%). Natural gas also edged higher, settling at $2.86.
Gold continued its rally, hitting a new all-time high after Powell’s comments on the U.S. economy’s two-sided risks. Spot prices rose 0.9% to $3,778 per ounce, while December futures advanced 1% to $3,811. Investors sought the safe haven metal amid expectations of further monetary easing and persistent geopolitical uncertainty.
U.S. stock indexes ended the session lower after a string of record highs. The S&P 500 fell 0.55% to 6,656.92 despite reaching a new intraday peak earlier. The Nasdaq Composite lost nearly 1%, closing at 22,573.47 under pressure from tech giants like Nvidia, Oracle, and Amazon. The Dow Jones Industrial Average slipped 0.19% to 46,292.78, reflecting investor doubts about the sustainability of the AI-driven rally.
Meanwhile, Alibaba shares in Hong Kong surged more than 6%, hitting their highest level since 2021 after the company unveiled new AI products and signaled increased investments in the field. The stock has now gained over 107% year-to-date.
As for cryptocurrencies, markets showed little immediate reaction to Tether’s fundraising plans, with sideways trading persisting. Bitcoin held above $112,000, while Ethereum remained above $4,100.
As a reminder, on September 22 the global agenda was focused on the Palestinian question: several European countries recognized Palestine, Italy was gripped by mass protests, drones disrupted airports in Scandinavia, Donald Trump prepared for a meeting with Xi Jinping, and in the U.S. the year’s biggest tech alliance was struck as Nvidia and OpenAI announced a $100 billion deal.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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