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Last updated: July 17, 2026, 2:30 AM ET

Tech Stocks Under Pressure, Nvidia Leads Decline

Chip and memory stocks faced a fresh bout of selling as investors pulled away from companies that have led the market rally. The Nasdaq composite as semiconductor stocks experienced a renewed wave of selling. Taiwan stocks amid broad losses in Asia's chip sector, with Taiwan Semiconductor Manufacturing Co.'s results fueling concerns over heavy spending and a weaker outlook. China's artificial intelligence companies are poised to deliver robust earnings, but elevated expectations after a long rally are setting a high bar for further gains. Emerging-market equities declined for a second day and were headed for a weekly drop, with concerns over stretched AI valuations dragging down technology shares and triggering a selloff across Asia.

Global Markets React to Geopolitical Tensions and Economic Outlook

Wheat eased as traders locked in gains, against a backdrop of Black Sea supply risks and weak U.S. export demand. Industrial metals, with base metals retreating as traders considered the likelihood of higher interest rates and their negative impact on demand. Gold remained below in early Asian trade, with central bank buying expected to be a structural driver. However, gold was on track for its biggest weekly loss since early June as renewed Middle East hostilities raised the odds of further U.S. Federal Reserve rate hikes. U.S. natural gas futures retreated as a robust storage surplus remained intact.

Corporate Dealmaking and IPO Activity

The buyout group EQT as it reported higher net profit and revenue for the first half, aided by an increase in fee-generating assets. Howden Group, a London-based insurance broker, is in talks to raise several billion pounds in new private capital as it prepares for a potential initial public offering by 2030. Eoptolink Technology, a Chinese maker of optical transceivers, has filed confidentially for a multibillion-dollar listing in Hong Kong. National Stock Exchange of India Ltd. received 'sell' ahead of its anticipated IPO debut. Kopi Kenangan, a celebrity-backed Indonesian coffee chain, has held talks with banks to explore a potential listing that could value it at up to $1 billion.

Automotive and Transportation Sector Developments

Volvo Car in the second half of the year, driven by growth in Europe and a recovery in the U.S., despite ongoing challenges in China. Chinese automaker XPeng, marking its first global vehicle launch outside China as it expands overseas amid intensifying domestic competition. Alcoa cut full-year, citing operational issues at its Australian refinery, though alumina prices remained stable. Chevron bypassing Strait.

Regulatory and Policy Shifts Impacting Markets

The European Union in its emissions trading system revamp, with plans to soften the reduction in carbon permits. Japanese ruling party panel members are calling for stricter limits on shareholder rights, arguing that current regulations encourage "excessive" activist proposals. Google has been ordered by EU regulators to provide AI rivals with more access on Android smartphones, addressing concerns that Google might leverage its user base for an AI advantage.

Economic Trends and Consumer Behavior

Americans are continuing to spend, with lower gas prices providing some relief from higher living costs, though those prices are now creeping higher again. A parasitic outbreak has put big lettuce producers in a PR crisis mode, causing diners to avoid fresh produce and chefs to revise menus. The U.S. power grid, with the operator of America's largest electricity network entering an emergency process to address a projected supply shortfall.

Currency and Bond Market Movements

The dollar-yen pair by year-end from its current level of around 162.40, according to Sumitomo Mitsui DS Asset Management. The WSJ Dollar Index, snapping a two-day losing streak. Bond traders are following softer inflation data, with traders of interest-rate options scrambling to exit positions anticipating a rate hike. Holders of Senegal’s dollar bonds of their face value in a debt restructuring.

Geopolitical and International Relations

Iran-linked tankers are U-turning and zig-zagging in the Gulf of Oman and Arabian Sea as the U.S. enforces sanctions. U.S. natural gas futures fell further as a robust storage surplus remained intact. India is, with the prime minister undertaking a diplomatic tour to secure supplies exposed by the Iran war and bolster the nuclear power sector. Spain extending welcome to utilize its workforce for major industrial investments.

Other Notable Market and Business News

The mega-IPO glut. The U.S. stock market is experiencing swings, with falling chip stocks and rising transports. The London-based insurance broker Howden Group on its path to a blockbuster IPO. The National Stock Exchange of India Ltd. drawn rare ahead of its long-awaited IPO debut. Sweetgreen Inc. shares slid three-month amid fears of a cyclosporiasis outbreak.