Week in Review (Oct. 19–23, 2026): AI Spending Jitters, Iran Strike Plans Report, Alberta Stays and a First-Time World Series Champion Ahead
US News · Week in Review — Friday, Oct. 23, 2026. This week in review covers the major stories from Monday, Oct. 19, through Friday morning, Oct. 23. Figures are as reported by the cited sources at the time of writing; developing stories may change.
This week in review starts with a market that swung on artificial intelligence. Big Tech earnings from Meta and Tesla revived questions about how much companies are spending on AI, and chip stocks fell hard on Thursday. Overseas, a New York Times report said the U.S. and Israel have drawn up plans for new strikes on Iran after the U.S. midterm elections. Alberta voters chose to stay in Canada. Regulators finished the first federal stablecoin rule. The FDA approved a new type of hepatitis B treatment. And the Tampa Bay Rays and Milwaukee Brewers open a World Series tonight that will crown a first-time champion.
Week in Review at a Glance
| Area | Story | Date |
|---|---|---|
| US News | Nor’easter floods the Outer Banks; Hatteras Island under a state of emergency | Oct. 19 |
| World News | Alberta votes about 76% to remain in Canada (preliminary) | Oct. 19 |
| World News | NYT: U.S. and Israel plan possible Iran strikes after midterms | Oct. 22 |
| Technology | DHS orders DeepSeek AI removed from federal civilian systems | Oct. 20 |
| Markets | Meta and Tesla report; chip stocks slide Thursday | Oct. 21–22 |
| Crypto | OCC issues GENIUS Act final rule; bitcoin falls below $82,000 | Oct. 21–22 |
| Health | FDA approves Hibsago for chronic hepatitis B; large ADHD mortality review | Oct. 19–20 |
| Science | UNEP: 1.5°C limit can no longer be met without overshoot | Oct. 21 |
| Sports | Rays win AL pennant; World Series Game 1 tonight in Milwaukee | Oct. 19–23 |
US News
Nor’easter batters the Outer Banks
Verified facts: A slow-moving, non-tropical low formed off the Southeast coast on Sunday, Oct. 18, bringing coastal flooding, high surf and strong winds to North Carolina’s barrier islands and parts of the Mid-Atlantic early in the week. Hatteras Island was placed under a state of emergency, and ferry service to Ocracoke was suspended (National Hurricane Center; Island Free Press).
Our full coverage: Outer Banks Nor’easter: Coastal Flood Warnings, Ferry Suspensions and Evacuations.
World News
Alberta votes to remain in Canada
Verified facts (preliminary): In a nonbinding referendum on Monday, Oct. 19, about 76% of Alberta voters chose to remain a province of Canada, while about 24% backed beginning a process toward a binding independence vote, according to projections reported by CBC News and CTV News via CP24. Results remain unofficial until Elections Alberta certifies them.
Read more: Alberta Referendum Results: Voters Reject Separation, Choose to Remain in Canada.
Report: U.S. and Israel draw up plans for strikes on Iran after the midterms
Reported (not confirmed by the White House): The New York Times, citing people familiar with the deliberations, reported on Oct. 22 that U.S. and Israeli officials have developed plans for major strikes on Iran after the Nov. 3 U.S. midterm elections. Possible targets reportedly include energy infrastructure, nuclear facilities and missile and drone stocks. According to TIME’s summary of the report, President Trump has not approved the strikes. Haaretz also reported on the plans.
Official statements: TIME reported that Iranian officials warned any attack would be answered and could cause a “serious energy crisis.”
Market effect: Oil prices jumped and stocks and Treasury yields fell early Thursday after the report, according to Charles Schwab’s market update.
Related: Houthi Attacks on Saudi Airports Shut Riyadh’s Main Hub.
Technology
DeepSeek banned from federal civilian systems
Verified facts: The Department of Homeland Security ordered federal civilian agencies to remove products from Chinese AI developer DeepSeek and to stop buying them. The order also covers third-party products built on DeepSeek models. It was filed for public inspection with the Federal Register on Oct. 19 and published Oct. 20.
Read more: DeepSeek Federal Ban: DHS Orders Chinese AI Removed From Civilian Agency Systems.
Markets and Earnings
Meta and Tesla put AI spending back in focus
Meta Platforms (NASDAQ: META), from its Oct. 21 earnings release:
- Third-quarter revenue: $64.6 billion, up 26% from a year earlier.
- Diluted EPS: $3.83, including a $9.89 billion legal charge tied to an August settlement with state attorneys general. Meta said EPS would have been $7.40 without that charge.
- 2026 capital expenditures outlook: $135 billion to $145 billion, with the low end raised from $130 billion.
- Fourth-quarter revenue outlook: $73 billion to $76 billion. Meta did not give a full-year 2027 revenue outlook.
Tesla (NASDAQ: TSLA), as reported by Electrek from Tesla’s Oct. 21 shareholder letter:
- Revenue: $28.05 billion, flat from a year earlier.
- Adjusted EPS: $0.48; GAAP net income fell 43% to $787 million.
- Deliveries: 486,532, down 2.1%. Tesla said battery availability was “the limiting factor” on vehicle output.
Chip stocks slide Thursday
Reported market moves: Semiconductor shares fell sharply on Thursday, Oct. 22. Lam Research dropped about 7% early after its outlook met but did not beat expectations, and IBM fell nearly 6% despite raising its outlook, according to Schwab. TipRanks reported the Philadelphia Semiconductor Index fell 6.7% on the day, and that memory makers Micron, SanDisk and SK Hynix were rebounding in Friday premarket trading.
Background: Stock Market Outlook: Nasdaq Futures Rebound After AI Sell-Off as Meta, Tesla Earnings Week Begins.
Cryptocurrency
First federal stablecoin rule is final
Verified facts: The Office of the Comptroller of the Currency issued its final rule implementing the GENIUS Act on Oct. 21. It sets reserve, redemption, custody and risk-management standards for payment stablecoin issuers under OCC oversight. The rule and the Act take effect Jan. 18, 2027.
Read more: OCC GENIUS Act Final Rule: Federal Stablecoin Standards Set Ahead of January 2027.
Bitcoin falls below $82,000
Reported market moves: Bitcoin fell to around $81,800 on Thursday, giving up a late-Wednesday rally toward $84,800 as AI-related selling in stocks spread to crypto, CoinDesk reported. Ether fell to near $2,400, and DeFi tokens led declines. CoinDesk also reported that spot bitcoin ETFs took in more than $1 billion over the first three days of the week.
Health and Medicine
FDA approves Hibsago for chronic hepatitis B
Verified facts: The FDA announced on Oct. 20 the approval of Hibsago (bepirovirsen) from GSK and Ionis Pharmaceuticals. It is the first antisense medicine approved for chronic hepatitis B and is given as a six-month course added to standard therapy.
Read more: FDA Approves Hibsago: A New Chronic Hepatitis B Treatment.
Large review links ADHD to higher early-death risk
Study findings: A JAMA Network Open meta-analysis published Oct. 19 pooled data on nearly 16 million people and found a 70% higher risk of early death among people with ADHD. The study is observational, so it shows an association rather than cause and effect.
Read more: ADHD Mortality Study: Review of 16 Million People.
Science and Climate
UNEP: 1.5°C overshoot now unavoidable
Report findings: The United Nations Environment Programme’s Emissions Gap Report 2026, released Oct. 21, concludes that the chance to hold warming to 1.5°C without overshooting it has been lost. It shifts the focus to keeping any overshoot as small and short as possible, ahead of the COP31 talks in Antalya, Türkiye.
Read more: Emissions Gap Report 2026: UNEP Says 1.5°C Overshoot Is Now Unavoidable.
Sports
Rays and Brewers meet in the World Series
Verified facts: The Tampa Bay Rays won the American League pennant on Monday, Oct. 19, beating the Cleveland Guardians 7-3 in Game 6 to take the ALCS 4-2, according to CBS Sports. They face the Milwaukee Brewers, who swept the Los Angeles Dodgers in the NLCS. Neither franchise has won a World Series, so the 2026 champion will be a first-time winner. Game 1 is tonight, Friday, Oct. 23, at 8 p.m. ET in Milwaukee on Fox.
What to Watch Next Week (Oct. 26–Nov. 1)
These are scheduled or officially announced events. Dates can change.
- World Series: Game 2 is Saturday, Oct. 24, in Milwaukee. Games 3 and 4 are Oct. 26 and 27 in Tampa Bay, with Game 5 on Oct. 28 if needed. Games 6 and 7, if needed, are Oct. 30 and 31 in Milwaukee (ESPN schedule).
- Israel election: Israelis vote for a new Knesset on Tuesday, Oct. 27 (CP24/AP).
- Federal Reserve: The FOMC meets Oct. 27–28, with a policy statement at 2 p.m. ET and a press conference at 2:30 p.m. ET on Wednesday, Oct. 28 (Federal Reserve calendar).
- Microsoft earnings: Microsoft reports fiscal first-quarter 2027 results after the close on Wednesday, Oct. 28 (company announcement).
- European Central Bank: The ECB announces its policy decision on Thursday, Oct. 29, followed by President Christine Lagarde’s press conference (meeting calendar).
- SanDisk earnings: SanDisk reports fiscal first-quarter results on Oct. 29 (TipRanks).
- Clocks change: U.S. daylight saving time ends Sunday, Nov. 1. The U.S. midterm elections follow on Tuesday, Nov. 3.
More from US News: Week in Review (Oct. 5–9, 2026) · The Week Ahead (Oct. 12–18, 2026)
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