TROW · 10-Q · 2026Q3 · Full report

Macroeconomic Factors Impact

PRICE T ROWE GROUP INC · 2026-10-29 · Importance 10 · Surprise 6

In the third quarter of 2026, global equity markets had mixed returns as investors weighed renewed escalation in the U.S.-Iran conflict, uneven labor-market data, and persistent inflation. Higher energy prices and tighter monetary conditions contributed to divergent performance across regions, market capitalizations, investment styles, and sectors. In emerging markets, strength in South Korean and Taiwanese semiconductor-related companies was offset by pressure on energy-importing markets and weak Chinese domestic-demand and property-sector data.