Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Brazil Weighs IP Curbs, Patent Suspensions After New U.S. Tariffs 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
Gold Prices Head for Biggest Weekly Loss Since June as Fed Rate Outlook Weighs 
Oil prices edged lower in early Asian trading on Thursday, easing after a sharp rally fueled by escalating tensions between the U.S. and Iran. Brent crude futures dipped 0.4% to $69.47 a barrel, while West Texas Intermediate (WTI) fell 0.4% to $67.95, retracing part of Wednesday’s 4% surge.
The previous session’s rally was driven by geopolitical risks after the U.S. authorized voluntary departures of military dependents from bases in Bahrain and Kuwait. This move, amid rising tensions with Iran, sparked fears of potential disruptions to crude supply across the Gulf—a key global oil hub. U.S. President Donald Trump expressed doubt about reaching a nuclear deal with Iran, warning that military options remain if talks fail. Iran's defense minister responded by threatening retaliation against U.S. bases in the region.
Oil markets reacted swiftly to the heightened risk of conflict, as any escalation could impact key shipping lanes and energy infrastructure, adding a geopolitical risk premium to crude prices.
Meanwhile, investor sentiment was also influenced by progress in U.S.-China trade negotiations. President Trump stated that a framework deal is “done,” pending final approval by him and Chinese President Xi Jinping. The deal includes export licenses for China’s rare earth minerals and allows Chinese students to remain in the U.S., while maintaining existing tariffs on both sides.
Trump also noted that letters will soon be sent to major trade partners, outlining “take it or leave it” terms ahead of a July 9 deadline tied to the suspension of broader “liberation day” tariffs.
The easing of trade uncertainty has improved the global economic outlook, potentially boosting future oil demand. However, geopolitical risks remain a key driver of near-term price volatility.
