Public Markets 3 Days

Last updated: July 28, 2026, 5:30 AM ET

Tech and Chip Stocks Lead Global Selloff

Asian equities, with South Korean markets leading losses as a selloff in chipmakers intensified amid growing concerns over artificial intelligence spending and competition from China. The benchmark for emerging markets reached the lowest in three months, as chipmakers like SK Hynix faced a $470 billion rout, raising questions about the memory-chip boom. US technology stocks were poised to slump, tracking the global semiconductor rout, with Nasdaq futures dropping more than 1%. Trading was temporarily paused in South Korea as its benchmark stock index.

Energy Prices Ease Amid Shifting Geopolitical Tensions

Oil futures as President Trump indicated that talks with Iran were taking place, while Brent crude further declined. Tankers are diverting to Egypt as Houthi threats upend Red Sea trade, though the main terminal for exporting Kazakhstan’s oil, easing supply pressures. The US paused almost two weeks of strikes against Iran, leading to a significant drop in oil prices. Macquarie sees an oil surplus risk before the US midterm elections if a US-Iran deal is reached.

Corporate Earnings and Strategic Shifts

Philips shares fell as much as 11% after orders slipped, wiping out the stock’s gains since the year began. Unilever lifted its outlook after second-quarter sales rose more than expected, driven by consumers in key markets including the US and India snapping up its Dove soap. Barclays raised key and reported a 31% rise in quarterly earnings to £3.3bn, boosted by its global markets unit and investment banking fees. Standard Chartered Plc has seen several senior executive departures from its Indian operations as the lender reorganizes its wealth business.

Automotive Sector Faces Headwinds

Mercedes-Benz cuts annual amid a slump in China, joining Volkswagen and BMW in warning of a tougher market. Porsche plans to cut 5,000 more jobs after sales collapsed in China, signaling further trouble for Germany’s car industry. Chinese company BYD is challenging Toyota on its home turf with a tiny EV, aiming to become the world’s largest carmaker in five years.

Real Estate and Investment Activity

Unite Group Plc is planning to sell as many as 20,000 student dorms to focus on the UK’s top universities. Dubai’s financial hub, DIFC, underscoring its success in attracting global firms despite geopolitical risks. Ares Management has held talks to acquire Leonard Green & Partners, a deal that would more than quadruple the size of its private equity business. Investors are snapping up bundles of properties as housebuilders offer discounts, while cautious consumers remain on the sidelines.

Financial Services and Regulatory Landscape

EY was fined £1.2mn for breaching standards on the Made.com audit, with the regulator stating the firm relied on the furniture retailer’s forecasts and did not carry out ‘adequate testing’. Traders are sticking with one of Europe’s most popular interest-rate bets, despite it being repeatedly pushed off course this year. Man Group Plc hit a 16-year high after its assets jumped to a record in the first half of the year, as clients poured money into its long-only investment strategies.

Economic Indicators and Market Trends

Taiwan’s five-year bond yield climbed to its highest level since 2008 amid growing expectations for a central bank interest-rate hike. US state and local government debt hit its cheapest level since the spring, after inflation fears caused municipal bonds to see their worst week of returns since April 2025. Currency markets saw the Singapore dollar remain steady, supported by tighter Monetary Authority of Singapore policy, while the Philippine central bank intervened to defend the peso as it weakened to a record low.

Global Trade and Investment Dynamics

India’s top iron ore-producing state is increasing quality-control checks after some miners were found to be misrepresenting grades to pay lower royalties. The US is publishing photos showing rare joint coast guard sailing with Taiwan vessels, a move aimed at reassuring Taipei as China steps up pressure. Western powers are racing to bring the production of explosives back home, with governments unleashing spending to onshore production. China’s luxury jeweler Laopu Gold Co. lost $2.1 billion in market value after flagging slowing sales, unsettling investors.