Public Markets 3 Hours

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

Markets Face Tech Selloff and Geopolitical Headwinds

Chip and memory stocks on Wall Street, as investors pulled back from companies that have led the year's market gains. Emerging-market equities amid the tech selloff and rising crude oil prices, with concerns over stretched AI valuations dragging technology shares lower and triggering a selloff across Asia. Taiwan stocks, amid broad losses in Asia’s chip sector as Taiwan Semiconductor Manufacturing Co.’s results stoked worries over heavy spending and a weaker outlook. In currency markets, the yen was flat against the dollar, with analysts tipping the dollar-yen pair to gradually move toward 165 by year-end from around 162.40. Wheat prices eased as traders locked in gains, against a backdrop of Black Sea supply risks and weak U.S. export demand.

Corporate Activity and IPO Market Dynamics

Sweden’s EQT as it posted higher net profit, aided by fee-generating assets. The mega-IPO glut, as the market grapples with the implications of numerous large listings. The National Stock Exchange of India Ltd. drew rare ahead of its long-awaited IPO debut. Eoptolink Technology Inc., a Chinese maker of optical transceivers, has filed for a $5bn Hong Kong listing, according to people familiar with the matter. Howden Group, a London-based insurance broker as it eyes an IPO by 2030. Meanwhile, celebrity-backed Indonesian coffee chain Kopi Kenangan, which counts Serena Williams and Jay-Z among its investors, has met with banks for a potential IPO that could value it at up to $1 billion.

European Industry and Economic Outlook

Volvo Car in the second half of the year, driven by growth in Europe and a recovery in the U.S., despite challenges in China. In the UK, mortgage rates rose again after the resumption of Middle East hostilities, with several lenders raising fixed rates. The EU in its Emissions Trading System revamp, with the climate chief backing support for heavy industry while delaying emissions curbs. Investors are also calling on the Bank of England to, criticizing its quantitative tightening program for driving up government borrowing costs.

Technology, AI, and Global Competition

China’s Xi and took a swipe at U.S. dominance, wooing developing countries as superpowers jockey for technological leadership. The question of "who pays for AI?" remains key, along with how much. Europe, despite losing ground in some tech areas, with the UK and EU committing twice as much money as the U.S. to investments in the computing sector. A venture capital firm founder, launching a fund to back European dual-use and defense tech startups. AI is rather than destroying them, with leading companies already responding to the revolution in professional services.