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Last updated: July 17, 2026, 5:30 AM ET

Tech Stocks Tumble Amid AI Selloff, Emerging Markets Face Correction

US equity futures fell sharply as a selloff in semiconductor stocks intensified, prompting a sector rotation and losses for the Nasdaq, which was set to deepen. The Nasdaq futures dropped as investor concerns about the AI buildout grew, with global tech stocks falling as the AI trade reversed. The MSCI Emerging Markets Index slumped, heading for a technical correction as worries over stretched AI valuations triggered a broad selloff in chip stocks across Asia. Taiwan stocks entered a technical correction, mirroring broader losses in Asia's chip sector after Taiwan Semiconductor Manufacturing Co.'s results fueled worries over heavy spending and a weaker outlook. China's AI companies are poised to deliver robust earnings, but elevated expectations after a months-long rally may prevent further gains in tech stocks. A measure of investor sentiment on China technology hardware is flashing its most bearish reading ever as the red-hot rally in chip stocks rapidly cools.

Corporate Insiders Liquidate Holdings, Adding to Market Jitters

US corporate executives are selling shares at the second-fastest pace in more than 20 years, a move some investors view as a classic red flag, suggesting insiders are wary about market valuations. This trend adds to market jitters as investors grapple with geopolitical tensions and the ongoing selloff in technology and AI-related stocks.

European Equities Show Resilience Amid Geopolitical Concerns, Amundi Eyes IPO Gains

Strategists are increasingly optimistic about European stocks, with UBS and Deutsche Bank raising their Stoxx 600 targets, citing accelerating earnings growth and confidence that the rally can withstand geopolitical jitters. Amundi SA expects to book a net capital gain of approximately €300 million ($343 from the initial public offering of its asset management joint venture in India. The asset manager also wants the European Union to allow oil and gas exposures in a new fund category intended to support the transition to a lower-carbon economy.

Gold Prices Decline as Middle East Tensions Fuel Rate-Hike Bets

Gold prices slipped below $4,000 a troy ounce, on track for a weekly decline of more than 3%, as renewed hostilities in the Middle East increased the odds that the US Federal Reserve may need to raise interest rates to contain inflation. The dollar edged lower as oil prices stabilized, even as hostilities between the U.S. and Iran continued. However, oil futures settled lower in choppy trade, with the market awaiting clarity on whether the U.S. escalates strikes on Iran or if talks resume.

Indian IPO Market Faces Valuation Challenges Amid Funding Concerns

Indian fast-delivery company Zepto Ltd. is seeking a valuation in its initial public offering sharply below its $7 billion peak, as concerns over cash burn temper optimism around the industry. Separately, India's Manipal Health Enterprises Ltd., operator of the Manipal Hospitals chain, is seeking a lower valuation of about 800 billion rupees ($8.3 in its planned initial public offering. The National Stock Exchange of India Ltd. has received a ‘sell’ recommendation just as it gears up to launch the country’s biggest IPO.

US Treasury Yields Rise on Hawkish Fed Signals, UBS Eyes Treasury Short

Treasury yields rose as Fed officials reinforced the central bank’s commitment to fighting inflation, and U.S. indicators mostly surprised on the upside. Federal Reserve Bank of Dallas President Lorie Logan called for higher interest rates, stating inflation does not appear to be heading sustainably back to the central bank’s 2% target. UBS Asset Management’s Kevin Zhao is planning to short Treasuries, betting that the robust U.S. economy will erode the haven appeal of owning government debt.

Defense Sector Sees Strong Demand, While Luxury Brands Report Mixed Results

Swedish defense company Saab backed its medium-term growth guidance after securing several large orders recently, reflecting strong demand in the defense sector. UK luxury brand Burberry reported flat sales growth for its first quarter but noted growth across divisions for the first time in three years, boosted by U.S. and China demand. Volvo Car expects growth in Europe and a recovery in the U.S. to spur significantly stronger sales in the second half of the year, despite continued challenges in China.

Philippine Bourse Reforms to Attract Retail Investors, Amidst Global IPO Market Concerns

The sole stock exchange in the Philippines is preparing a slew of measures, including new exchange-traded funds, to attract retail investors away from online gambling and cryptocurrency trading. Meanwhile, the market for newly public companies faces headwinds, with SpaceX’s fall from its post-listing peak to below its IPO price in just a month pouring cold water on the market for debuts.

Apollo and Balbec Capital Secure Significant Commitments for Private Credit Funds

Apollo Global Management Inc. plans to deploy as much as $20 billion to finance projects in Mexico as the asset manager seeks new outlets for its private credit business. Alternative asset manager Balbec Capital LP has obtained commitments of more than $930 million for its latest flagship fund that will invest in a variety of asset-based credit.

Aston Martin Creditors Seek Advisory Services Amidst Growing Debt Concerns

A group of creditors to Aston Martin Lagonda Global Holdings Plc have appointed Jefferies Financial Group Inc. as their financial adviser as concern over the debt of the distressed British automaker grows.

Entain to Cut Staff Amidst Increased UK Taxes and Regulatory Pressures

Entain Plc will cut 500 jobs, or about 2% of its global workforce, as the gambling industry grapples with higher UK taxes, tighter regulation, and growing competition from prediction markets.

Base Metals Decline on Rate Hike Outlook, Wheat Eases on Profit-Taking

Base metals retreated as traders weighed the likelihood of higher interest rates and their negative impact on demand. Wheat extended a decline as traders took profits, against a backdrop of Black Sea supply risks and weak U.S. export demand.

Hong Kong Stocks' Discount to China Widens Amidst Liquidity Strains

Hong Kong stocks’ valuation discount to their mainland-listed counterparts is widening, driven largely by liquidity strains and Beijing’s crackdowns on capital outflows.

Chevron Pursues Hormuz Bypass with Iraq Oil Accord and Syria Pipeline Plans

Chevron Corp. expects to sign accords with Iraq on Friday that will advance its negotiations about investing in large oil fields and a pipeline to bypass the Strait of Hormuz. A consortium backing a project also includes a Syrian-Qatari group and a LA venture firm with ties to Trump ally Tom Barrack.

Citigroup Traders Recommend Shorting CMA CGM Bonds Amidst Shipping Market Volatility

Citigroup’s credit traders and analysts are recommending their hedge fund clients short bonds issued by French shipping giant CMA CGM Group.

Raiffeisen Bank Clears Key Hurdle in Bid for Addiko Bank

Raiffeisen Bank International AG reached a key milestone in its bid to acquire Addiko Bank AG after shareholders representing more than 55% tendered their shares, reaching the offer’s minimum threshold.