ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Asian Stocks Slide as Nikkei Leads Losses on Tech Selloff and Rising U.S.-Iran Tensions 
Malaysia Q2 Economy Grows 5.8%, Beating Forecasts on Strong Tech Exports and Domestic Demand 
Nikkei Plunges 5% as AI Stock Selloff Spreads Across Asia 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
AI Chip Stocks Face Valuation Pressure as Investors Shift Toward Big Tech and Software 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
US Stock Futures Fall as Netflix Outlook, Chip Selloff and Iran Tensions Weigh on Markets 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Oil Prices Set for Weekly Surge as U.S.-Iran Conflict Fuels Supply Fears 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
The S&P 500 closed lower Friday in a sharp reversal after the White House confirmed that tariffs on Mexico, Canada, and China would take effect Saturday. The Dow Jones fell 337 points (-0.8%), the S&P 500 dropped 0.5%, and the Nasdaq slid 0.3%, despite trading over 1% higher earlier in the day.
White House Press Secretary Karoline Leavitt confirmed the U.S. will impose 25% tariffs on Mexican and Canadian goods and 10% on Chinese imports. Investors had hoped for a last-minute reversal of the decision, which caused uncertainty in the markets. Macquarie analysts had previously speculated that tariffs on Mexico and Canada wouldn’t take effect on February 1.
Meanwhile, inflation surged in December, with the PCE price index, the Federal Reserve’s preferred measure, rising 0.3% month-over-month and 2.6% annually. Core PCE, excluding food and energy, increased 2.8% year-over-year. Personal spending also climbed 0.7%, surpassing forecasts of 0.5%, driven by a strong labor market and wage growth. The Fed, which left interest rates unchanged this week, continues to monitor inflationary trends.
In corporate news, Apple (NASDAQ: AAPL) closed lower despite forecasting sales growth in the low- to mid-single digits for Q2. Exxon Mobil (NYSE: XOM) dipped 2.5% despite exceeding Q4 profit estimates. Colgate-Palmolive (NYSE: CL) lost 4.6% after missing revenue expectations. AbbVie (NYSE: ABBV) jumped 5% on strong immunology drug sales, while Deckers Outdoor (NYSE: DECK) plummeted 20% following weak revenue guidance.
Market uncertainty persists as traders react to tariff concerns, inflation data, and earnings reports.
