A global selloff in technology stocks gained momentum as doubts over returns from billions of dollars spent on artificial intelligence were compounded by a surge in oil prices that rekindled inflation concerns. MSCI’s Asia Pacific equities gauge fell 2.3%, following a selloff on Wall Street that saw the S&P 500 Index drop the most in a month. Regional chip bellwethers Samsung Electronics Co. and SK Hynix Inc. — beneficiaries of the global AI buildout — both slumped more than 7%. Equity-index futures indicated further losses for the tech-heavy Nasdaq 100. Further weighing on sentiment, Brent traded around $100 a barrel, having climbed over that level on Thursday after Houthi attacks on tankers in the Red Sea opened a new front in the Middle East conflict, while President Donald Trump threatened to extend US strikes on Iran. A 38% jump in the commodity this month has reignited concerns about inflation, prompting traders to price in prospects for higher interest rates. Government bonds in Japan, Australia and New Zealand all declined, while the Treasury 10-year yield climbed one basis point to 4.70% after jumping four basis points Thursday. Gold extended its drop to about $4,030 an ounce, as bets for higher interest rates made the yellow metal less appealing. Other precious metals also declined. The jump in energy prices has compounded a tech-led market selloff as investors grapple with doubts over returns from AI spending and the prospect of more persistent inflation. Higher oil prices have complicated the Federal Reserve’s policy outlook ahead of its meeting next week, with money markets now fully pricing in a rate increase by September. The market is also contending with a spate of attacks at the Caspian Pipeline Consortium terminal on Russia’s Black Sea coast, which exports most of Kazakhstan’s crude. Oil inventories across the globe are depleted by months of conflict, raising the risk of a supply squeeze that threatens to weigh on the global economy if prices continue to climb. In tariff-related news, the US will collect duties of between 10% and 12.5% on imports from most major trading partners, its biggest move yet to reconstruct Trump’s tariff wall that was pierced by the Supreme Court. Elsewhere, the dollar edged lower, though it still headed for its biggest weekly gain in a month. The currency is strengthening on the back of higher oil prices and “safe-haven flows,” said Moh Siong Sim, a strategist at Oversea-Chinese Banking Corp. Still, the focus remains firmly on the AI trade. Alphabet Inc. tumbled 7.1% Thursday after raising its capital-expenditure forecast, while Tesla Inc. slid 15% as profits disappointed despite strong electric-vehicle deliveries. Alongside Alphabet, Meta Platforms Inc., Microsoft Corp. and Amazon.com Inc. telegraphed in April they’d be spending as much as $725 billion this year on AI ambitions. US After Hours INTC +5.6%, THC +12.6%, EW +4.6%, KN +2.9% higher on earnings; SAFT +34.3% to be acquired; ORCL +1.9% wins DoW contract; AMKR +16.3% on deal with NVDA; MXL -9.8%, DECK -7.5%, SLM -6.1% lower on earnings.
Nikkei -2.90% Hang Seng -1.27% CSI -1.17% Kospi -5.63% Shanghai -1.20% Shenzen -1.96%
Eur$ 1.1378 CNH 6.7772 CNY 6.7765 JPY 163.84 GBP 1.3308 CHF 0.8175 RUB 78.3000 TRY 47.3401 WTI$ 91,63 -0.56% Gold 4,026 -0.55% BTC 65,261 +0.36% ETH 1,875 -0.32%
S&P +0.01% Nasdaq -0.17% EuroStoxx +0.11% FTSE -0.13% Dax +0.20% SMI -0.05%
Macro :
- Kalshi Eyes Copper Perpetual Futures After Precious Metals Push
- JPMorgan Moves Over 30 China Quant Researchers to Singapore, HK
- FDA Advisers Recommend Relaxing Peptide Rules in Win for RFK Jr.
- Trump Weighs Wider Iranian Attacks With New Truce Still Elusive
Keep an eye on :
Keep an eye on :
- ABVX FP : Abivax Strengthens Commercial Capabilities With Strategic Leadership Appointments
- AI FP : Air Liquide Invests Over $150m to Service US Chips Site
- ALV GY : Allianz to Buy HSBC’s Singapore Life Insurer for $2.1 Billion
- ALM SM : Almirall 1H Net Income EU39.6M Vs. EU26.5M Y/y
- AMKR US : *AMKOR SHARES JUMP 16% ON MULTI-YEAR NVIDIA PACKAGING PACT
- ARCAD NA : Arcadis Soars on Report WSP Is Mulling Possible Bid
- CA FP : Carrefour 1H Recurring Operating Income Misses Estimates
- CCC SS : Cavotec 2Q Revenue Beats Estimates
- CMBN SW : Cembra Sells Treasury Shares In Private Placement for ~CHF52m
- CEM IM : Italy’s Cementir Interested in CSN’s Cement Unit: Globo
- CDXS US : Codexis Said to Seek $25 Million in Share Sale at 25% Discount
- COL SM : Colonial SFL Socimi 1H Gross Rental Income EU207.4M
- DECK US : Deckers Shares Drop as Full-Year EPS Forecast Disappoints (1)
- ECONB BB : Econocom 1H Revenue Misses Estimates
- ECONB BB : Econocom 1H Revenue Misses Estimates
- EL FP : Ray-Ban Heir Nails €1.1B Refinancing With Apollo: Messaggero
- EXA FP : Exail Technologies 2Q Revenue EU144M Vs. EU126M Y/y
- GNC LN : Greencore Offering by Holder Prices at £2.30/Share: Terms
- HAVAS NA : Havas NV 2Q Organic Net Revenue +2.5%
- HEIJM NA : Heijmans 1H Revenue Beats Estimates
- HIMS US : FDA Advisers Recommend Relaxing Peptide Rules in Win for RFK Jr.
- HOFI SS : Hoist Finance 2Q Pretax Profit SEK632M
- IPN FP : Ipsen Says Bylvay Doesn’t Meet Primary Endpoint in Phase 3 Study
- LISN SW : Chocolate Maker Lindt Faces US Suit Over Child Labor Allegations
- FII FP : LISI 1H Ebitda Misses Estimates
- LOOMIS SS : Loomis 2Q Ebita Beats Estimates
- MAP SM : Mapfre 1H Net Income Misses Estimates
- MAP SM : Mapfre To Buy Safety Insurance for $105/Shr Cash
- NEX FP : Nexity 1H Revenue EU1.06B Vs. EU1.30B Y/y
- ORCL US : Oracle wins 10‑year US Department of War deal for software procurement
- PSKY US : Paramount Warner Bros. Deal Pause Extended to Mid-August
- PYPL US : PayPal Falls as WSJ Reports Stripe in Talks to Buy OpenRouter
- PST IM : Poste Italiane 2Q Adjusted Ebit Beats Estimates
- PLTR US : Raytheon, Lockheed, Palantir Had White House Meeting Thurs.: Fox
- SAB SM : Sabadell 2Q CET1 Ratio Fully-Loaded Beats Estimates
- SAFT US : Mapfre To Buy Safety Insurance for $105/Shr Cash
- SAN FP : Sanofi Ends Amlitelimab Clinical Devt for Atopic Dermatitis
- SAP GY : SAP Cloud Revenue Beats Estimates as Legacy Support Nears Cutoff
- SCTX US : Eli Lilly-Backed Scribe Raises $128.7 Million in Upsized IPO
- SWTQ SW : Schweiter 1H Ebitda CHF45.0M Vs. CHF43.4M Y/y
- SECUB SS : Securitas 2Q Ebita Misses Estimates
- SGSN SW : SGS 1H Revenue Beats Estimates
- LIGHT NA : Signify 2Q Professional Business Comp Sales Growth Beat Est.
- SPCX US : SpaceX Is Turning Away Falcon Customers in Major Bet on Starship
- TKO FP : Tikehau Capital Closes €5.2b European Direct Lending Fund
- UBI FP : Ubisoft 1Q Net Bookings Meets Estimates
- UBI FP : Ubisoft 1Q Net Bookings Meets Estimates
- VCP LN : Victoria FY Revenue GBP1.05B
- VLTSA FP : Voltalia 2Q Revenue EU198.0M
- VOW GY : VW Cuts FY Revenue Forecast, Volkswagen Cuts Sales Outlook as China Slump Squeezes Turnaround
- VONN SW : Vontobel Assets Under Management CHF252.2B
- YIT FH : YIT Maintains FY Adjusted Operating Profit Forecast