Public Markets 3 Days

Last updated: July 27, 2026, 11:30 PM ET

Global Markets Digest

Asian Equities and Bonds Face Pressure

Japanese and South Korean stocks tumbled in tandem amid an intensifying selloff in semiconductor shares, as concerns over Nvidia Corp.’s AI supply deal and rising competition from Chinese chipmakers weighed on investor sentiment. Japanese government bonds, or JGBs during morning Tokyo trading due to worries about a potential worsening of Japan’s fiscal situation. Asian currencies but remained vulnerable to lingering geopolitical risks.

Tech Stocks and AI Boom Under Scrutiny

A global selloff in semiconductor stocks deepened on Tuesday, with investor sentiment souring over the sustainability of the artificial intelligence boom. SK Hynix Inc.’s American depositary receipts slumped to a new low after its record-setting debut, as investors dumped once-high flying memory chip stocks. Apple Inc. regained its spot as the most valuable public company, surpassing Nvidia amid growing concerns about the costs associated with the AI boom. OpenAI is reportedly a $500 billion data center project, with chipmaker Nvidia in talks to provide a $250 billion financial backstop.

Energy Markets React to Geopolitical Developments

Oil prices as the U.S. paused strikes against Iran, easing supply pressures in a market already affected by tankers sailing to a recently disrupted Kazakh export terminal. The pause in U.S.-Iran hostilities in early Asian trade, with Brent crude falling below $90 a barrel. Macquarie analysts see a risk of oil markets tilting back into oversupply before year-end if the U.S. faces pressure to end the Iran conflict before the midterm elections.

IPO Market Activity and Corporate Dealmaking

Innolight Co. priced Hong at HK$53.4 billion ($6.8 , below its maximum offering, marking one of the city’s largest first-time share sales in seven years. Chinese chipmaker CXMT’s listing for its home province, with its shares surging 466% on debut. Curium is reportedly of radiopharma company Lantheus Holdings Inc. Ares Management has held talks to buy Leonard Green & Partners, a deal that would dramatically expand Ares’ private equity business.

US Markets and Economic Indicators

U.S. stocks were mixed as a pause in hostilities with Iran was offset by doubts about the AI boom and chip stock valuations. JPMorgan Chase & Co. analysts indicated an in-house indicator is, typically suggesting the S&P 500 Index is poised for gains. Municipal bonds looked cheapest since March after experiencing their worst week of returns since April 2025 due to inflation fears.