Public Markets 24 Hours

Last updated: June 26, 2026, 2:30 AM ET

Global Markets & Equities

Asian bourses tumbled sharply as investors grew anxious over demand for artificial intelligence products, with Apple’s price hikes on its devices sparking a selloff in technology stocks over concerns that rising component costs will dampen demand and slow the memory chip rally. South Korea’s main stock index suffered a second trading suspension this week, plunging 9% as chipmakers experienced a significant downturn, underscoring the market's sensitivity to fluctuations in global AI sentiment. In London, the FTSE 100 futures slipped, mirroring a broader decline in sentiment attributed to weakness in the technology sector. U.S. stocks, meanwhile, traded mixed, with the Nasdaq Composite falling 0.46% while the Dow Jones Industrial Average saw modest gains, as investors digested the latest AI reassurances from chipmaker Micron.

Artificial Intelligence & Tech Sector

The global AI talent war intensified as China’s DeepSeek planned a hiring spree, signaling a focus on commercializing its frontier research. This comes as competition heats up for Anthropic and OpenAI ahead of their initial public offerings, with open-source models posing a renewed challenge. OpenAI is leaning toward delaying its IPO until 2027, according to reports, as market professionals express concern that public backlash against AI could derail the soaring tech stocks driven by AI enthusiasm. Denmark’s Demant A/S saw its shares reach their best quarterly performance since 2000, fueled by the rollout of a new AI-equipped hearing aid. Black Berry also lifted its fiscal 2027 outlook on higher first-quarter results, citing expanding opportunities with artificial intelligence in its embedded-software business.

Corporate & M&A Activity

ON Semiconductor agreed to acquire Synaptics in an all-stock deal valued at $7 billion enterprise value, aiming to bolster its AI compute platform. In the automotive sector, Stellantis and Nissan are in talks to acquire assets from the troubled auto-parts maker Marelli Holdings. Meanwhile, Hertz Global Holdings Inc. continued its record rout, extending a significant stock decline on a revised funding plan and profit guidance. Bending Spoons, an Italian conglomerate, is employing an unusual financial strategy to revive struggling tech businesses, focusing solely on earnings for returns. In the retail space, sustainable womenswear brand Reformation filed for a US IPO, backed by private equity firm Permira.

Energy & Commodities

Oil futures fell on a likely technical correction after overnight gains, though movement through the Strait of Hormuz remained a concern following an attack on a cargo ship. Several freighters turned back from the vital waterway as Iran instructed ships to alter course. Empty LNG tankers are massing outside Qatar as the supplier seeks to boost production. Aluminum headed for its fourth weekly decline, pressured by a stronger U.S. dollar and returning Middle Eastern supply. China's crude oil imports are set to fall further in June, extending a subdued appetite since the start of the Iran war. U.S. natural gas futures rose ahead of storage data, with weather models indicating increased cooling demand.

Financial Services & Banking

JPMorgan Chase reshuffled its succession race, appointing Doug Petno and Troy Rohrbaugh as co-presidents, while longtime lieutenant Marianne Lake was informed she is no longer a CEO contender as new top deputies were named. The world's biggest crypto exchange, Binance, will cease providing services to EU clients after failing to secure a license under new MiCA regulations. In the private credit market, Ares’ flagship fund reported 14% withdrawal requests, leading the firm to cap redemptions amid an accelerating retail investor exodus.

Legal & Regulatory Landscape

The U.S. Supreme Court handed Bayer a crucial victory by overturning a verdict in a case alleging the manufacturer failed to warn about the cancer risks of its Roundup weedkiller. In a significant environmental settlement, Chemours agreed to pay $450 million in the first federal PFAS settlement addressing the dumping of “forever chemicals.” The legal sector is exploring how AI can power new firm structures and help lawyers shed repetitive tasks, though barriers to full tech embrace remain. Wall Street law firms are also contemplating a new era of insider trading risks following alleged misuse of private deal information.

Politics & Geopolitics

The U.S. Supreme Court expanded Donald Trump’s immigration power, allowing him to block asylum seekers at the border and handing him victories on immigration enforcement. A policy of turning back asylum seekers, rescinded in 2021, could be reinstated as a border control tool. The court also allowed the Trump administration to end Temporary Protected Status for many Haitians and Syrians, clearing the way for potential deportations. Meanwhile, Iran told ships in the Strait of Hormuz to turn back, with at least four vessels altering course following an attack on a cargo ship. The conflict in the Middle East has also pushed inflation higher, particularly affecting energy prices.

Other Notable Developments

Elon Musk’s SpaceX is planning a push into the U.S. consumer market with its Starlink satellite internet service, testing its ability to translate sky-high ambitions into a mass-market phone business. The company's debut bond sale has spurred trading in credit derivatives, with some warning that such activity signals markets are entering "bubble territory." In other tech news, Apple raised prices on Macs and iPads by as much as 20%, citing memory chip shortages exacerbated by the AI boom. Winnebago cut its outlook amid declining sales, reporting a decrease in fiscal third-quarter profit compared to the previous year.