Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
Wall Street’s Magnificent Seven stocks plunged in after-hours trading Wednesday following President Donald Trump’s announcement of sweeping new U.S. trade tariffs. Apple (NASDAQ:AAPL) and Tesla (NASDAQ:TSLA) led the sell-off, with Apple dropping 6.7% and Tesla falling 6% by 8:19 PM ET.
Trump unveiled a 10% universal tariff on all U.S. imports and announced reciprocal tariffs targeting countries with large trade surpluses or high duties on U.S. goods. China, a key player in global manufacturing, was hit hardest—total U.S. tariffs on Chinese imports now reach 54%.
Tech giants were among the biggest losers. Amazon (NASDAQ:AMZN) dropped 5.5%, Nvidia (NASDAQ:NVDA) fell 4.4%, Meta (NASDAQ:META) slipped 4%, and Microsoft (NASDAQ:MSFT) and Alphabet (NASDAQ:GOOGL) each lost 2.5%.
Apple faces significant exposure due to its reliance on China, Taiwan, Japan, and South Korea for production. The new tariffs could disrupt its supply chain and increase costs. Tesla’s global sales may be affected by retaliatory tariffs, and CEO Elon Musk recently acknowledged the potential impact of these measures on the company, which still imports critical components, mainly from China.
Stock index futures also declined sharply amid growing fears of global recession and inflation. Analysts warned the tariffs were more aggressive than expected and could trigger widespread disruption across global trade channels. The new costs will likely be passed on to U.S. consumers, raising inflationary pressures.
Trump did offer exemptions for sectors like pharmaceuticals, copper, gold, energy, lumber, and certain critical minerals. The tariffs are set to take effect in the coming week.
This development adds fresh volatility to markets and raises uncertainty for multinational companies deeply embedded in international supply chains.
