Medvedev, who won his first Masters title last month in Cincinnati, became just the third man to reach finals there, at Washington, Canada and the US Open in the same summer.

However like those before him -- Ivan Lendl in 1982 and Andre Agassi in 1995 -- he too finished runner-up in New York, beaten by Nadal Sunday in a pulsating contest 7-5, 6-3, 5-7, 4-6, 6-4 after four hours and 50 minutes at Arthur Ashe Stadium.

Nadal meanwhile remains second but moves to within 640 points of world number one Novak Djokovic -- eliminated by Stan Wawrinka in the last 16 at Flushing Meadows -- after conquering his 19th Grand Slam title, just one short of third-ranked Roger Federer's record total of 20.

Italian Matteo Berrettini shot up 12 places after to 13th after reaching the semi-finals in New York.

ATP rankings as of September 9

1. Novak Djokovic (SRB) 9,865 pts
2. Rafael Nadal (ESP) 9,225
3. Roger Federer (SUI) 7,130
4. Daniil Medvedev (RUS) 5,235 (+1)
5. Dominic Thiem (AUT) 4,575 (-1) 
6. Alexander Zverev (GER) 4,095 
7. Stefanos Tsitsipas (GRE) 3,420 (+1)
8. Kei Nishikori (JPN) 3,375 (-1)
9. Karen Khachanov (RUS) 2,810
10. Roberto Bautista (ESP) 2,575
11. Fabio Fognini (ITA) 2,475
12. Gaël Monfils (FRA) 2,455 (+1)
13. Matteo Berrettini (ITA) 2,245 (+12)
14. David Goffin (BEL) 2,055 (+1)
15. Borna Coric (CRO) 2,025 (-3)
16. Diego Schwartzman (ARG) 1,995 (+5)
17. Nikoloz Basilashvili (GEO) 1,895 (+1)
18. Kevin Anderson (RSA) 1,870 (-1)
19. Stan Wawrinka (SUI) 1,805 (+5)
20. John Isner (USA) 1,805 (-6)