Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
The Dow Jones Industrial Average closed at a fresh record high on Wednesday as gains in healthcare and consumer stocks offset weakness in technology shares. Investors paused after the recent AI-driven market rally while closely monitoring developments in Middle East peace negotiations and upcoming U.S. inflation data.
The Dow climbed 182.60 points, or 0.36%, to finish at 50,644.28. The S&P 500 edged up 0.02% to 7,520.36, while the Nasdaq Composite gained 0.07% to close at 26,674.74. Both the S&P 500 and Nasdaq also recorded new closing highs for a second consecutive session.
Healthcare and consumer-related stocks helped drive the market higher. Procter & Gamble surged 3.2%, while UnitedHealth advanced 1.9%. Consumer discretionary stocks led sector gains, rising 1.9% overall.
Technology and semiconductor shares, however, pulled back after recent strong performances. Qualcomm dropped 6%, Marvell Technology fell 4.6%, and Intel declined 1.4%. Nvidia slipped 1%, contributing to a 1.4% decline in the Philadelphia Semiconductor Index after the benchmark reached record levels earlier this week.
Banking stocks also weighed on the market. JPMorgan Chase shares tumbled 2.4% after CEO Jamie Dimon warned that company expenses could exceed previous forecasts by approximately $1 billion this year.
Investor sentiment remained cautious as U.S.-Iran negotiations continued. Secretary of State Marco Rubio said progress had been made in talks with Iran, although President Donald Trump stated unresolved issues still remain.
Oil prices also pressured the market, with the S&P 500 energy sector falling 1.5% as crude prices dropped nearly 5%.
Elsewhere, cybersecurity company Zscaler plunged 31.5% after issuing weaker-than-expected revenue guidance. Meanwhile, Bath & Body Works jumped 9.7% following strong quarterly earnings, and Abercrombie & Fitch gained after reporting better-than-expected profits.
Goldman Sachs raised its 2026 year-end target for the S&P 500 to 8,000 from 7,600, citing resilient corporate earnings growth and continued market momentum.
