Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
IEA Warns China Rare Earth Export Curbs Could Threaten $6.5 Trillion in Global Production 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Japan Core Inflation Seen Rising in June, Strengthening BOJ Rate Hike Outlook 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Asian markets dropped Wednesday as Nvidia shares plunged following U.S. restrictions on AI chip exports to China, fueling fears of an expanding U.S.-China tech war. The news wiped out $160 billion from Nvidia’s market cap, triggering a 1.4% fall in Nasdaq futures and a 0.8% drop in S&P 500 futures.
The U.S. imposed new export licensing rules on Nvidia’s H20 chips, a move expected to cost the chipmaker $5.5 billion. Analysts warn the export curbs mark the beginning of a larger tech battle, prompting investor caution. The broader MSCI Asia-Pacific index slipped 0.9%, while Japan’s Nikkei dipped 0.5%, and Hong Kong’s Hang Seng dropped 1.6%. In contrast, Chinese chipmakers like Hua Hong Semiconductor and SMIC gained on expectations of domestic growth.
Despite China’s Q1 GDP growth beating forecasts at 5.4%, trade tensions cloud the outlook. President Trump’s order to investigate new tariffs on critical mineral imports and China’s retaliation—including a halt on Boeing aircraft deliveries—intensified concerns over global supply chains.
Gold soared 1.2% to a record $3,266.65 per ounce, driven by rising geopolitical risk. ANZ raised its year-end gold price forecast to $3,600, citing increased demand for safe-haven assets. U.S. Treasury yields stabilized, with the 10-year at 4.325% and the 30-year at 4.777%, both below last week’s highs.
In currency markets, the dollar weakened. The euro rose to $1.1316, and the yen gained to 142.84 per dollar. Bank of Japan Governor Ueda signaled potential policy action if tariffs weigh on Japan’s economy.
Oil prices edged higher, with Brent at $64.79 and U.S. crude at $61.42. Markets now await Federal Reserve Chair Jerome Powell’s speech for further guidance amid escalating trade tensions.
