Public Markets 3 Days

Last updated: July 24, 2026, 2:30 AM ET

Oil Prices Surge, Fueling Inflation Fears and Global Market Sell-offs

Brent crude oil a barrel for the first time in two months as escalating conflict with Iran and threatened global supply chains. Chinese buyers rushed to secure discounted Russian ESPO crude, weeks ahead of schedule, as Middle East risks grew. The spike in oil and prompted a sell-off in global bonds, with investors who bet on easing price pressures. Treasury yields of President Trump's second term, while Asian markets due to rising oil prices and borrowing costs. The upward pressure on crude also impacted UK pub stocks, which slumped as a heatwave and higher costs offset any World Cup sales boost. Wheat prices as geopolitical tensions and adverse weather in producing regions stoked supply concerns.

US Tariffs and Trade Tensions Escalate Globally

The Trump administration of approximately 10% on over 80 countries, targeting goods made with forced labor and replacing expiring duties. These measures as the US seeks to leverage trade policy, with Singapore’s top diplomat stating there was no economic justification for the US levies on the city-state. South Korean companies, flush with cash from the AI boom, are in the US to bolster their tech capabilities and circumvent the escalating tariffs. China’s President Xi Jinping is also to engage the global south, offering ambitious AI solutions to build an alternative global order.

AI Dominance and Tech Sector Volatility

Artificial intelligence continues to drive significant investment and market movement, with tech giants like Google. However, concerns over the massive expenditure on AI infrastructure off the market value of the Magnificent Seven stocks. Blackstone’s Stephen Schwarzman highlighted that the firm’s shares to the AI narrative. Goldman Sachs and JPMorgan Chase have allowing investors to quickly adjust exposure to tech industry debt, amid growing unease about hyperscalers' substantial spending. Intel reported its, fueled by demand for AI data centers, while SAP saw its revenue rise 9.4% due to its cloud business, though operating profit growth slowed. Private capital group Blackstone is reportedly seeing a slowdown in withdrawals from its flagship private credit fund, following investor concerns over potential losses.

Asian Markets React to Geopolitics and Economic Pressures

South Korean stocks, as funds reduced exposure following overnight losses in US peers and anticipation of a Chinese rival’s share sale. Chinese stock turnover shrank to its lowest in over three months, as investors shied away from the technology sector. Meanwhile, China's central bank to the economy in five months via its medium-term lending facility to support growth. Japan’s authorities signaled a readiness to take bold steps to counter excessive currency market moves, with the yen on track for its biggest weekly loss in over two months. India’s financial markets by student protests that have put pressure on Prime Minister Narendra Modi, although demonstrations over examination paper leaks widened nationwide.

Bond Markets Under Pressure as Inflationary Threats Re-emerge

Global bonds continued to reel from the resurgence in energy prices, with Brent crude topping $100 per barrel. This surge threatens a prolonged period of inflation and necessitates a resetting of interest rate expectations by central banks. India's swap market is now pricing in at least a 25-basis-point rate hike at the October meeting, as pricey crude. The US dollar index remains in a solid uptrend, with the WSJ Dollar Index rising 0.3% over the past six trading days, potentially impacting gold prices.

Corporate Dealmaking and Strategic Moves

Dangote Cement Plc for its cement business, citing faster share sales compared to Dubai. HSBC has agreed to sell its Singapore insurance business to Allianz for $2.1 billion as part of its ongoing simplification strategy. Blackstone is reportedly in talks to hand over its ESG consulting firm, Anthesis Group, to its private. Advent has hired Morgan Stanley to explore a potential sale of its stake in Brazilian manufacturer Tigre SA. In the automotive sector, Aston Martin has secured a £550 million debt deal despite, while Apple is reportedly reviving its automotive ambitions with a deal with Ford for in-car software.

Other Market Developments

Malaysia has raised $1.5 billion in its first dollar bond sale in five years to bolster funding amidst rising fuel subsidy costs. Singapore’s sovereign wealth fund GIC Pte reported its lowest five-year annualized return in over a decade, though it plans to invest $30 billion in hedge funds over the. South Korea is accelerating its plan to lift the minimum cash deposit requirement for leveraged exchange-traded funds to curb demand and. The US CLO market is taking cues from Tokyo as much as Wall Street, according to a new study. Boston Beer Company reported lower second-quarter profit as sales declined, and Cal-Maine Foods swung to a loss due to historically low. Union Pacific reported higher second-quarter profit and revenue, driven by volume growth, while CSX also saw increased. Edwards Lifesciences narrowed its full-year sales outlook.