Public Markets 3 Hours

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

Asian Markets Plunge on Chip Woes, China's Tech Ambitions

Asian markets on Tuesday, led by a sharp decline in South Korea's benchmark index, which amid a broader regional selloff. The downturn was heavily influenced by a deepening rout in semiconductor shares to their lowest point in three months. Concerns over artificial intelligence spending and heightened competition from China in the chip sector globally. Chinese luxury jeweler Laopu Gold Co. shed $2.1 in market value after flagging a slower growth outlook, unnerving investors who had been betting on viral consumer brands.

European Equities Mixed Amid Rate Bets and Corporate Earnings

European bourses as traders largely stuck with popular interest-rate bets despite recent volatility. While oil prices' decline helped shield some European currencies, the broader market sentiment was influenced by global tech sector weakness. Shares in Philips fell as much as 11% in early European trade, erasing year-to-date gains following a slip in orders. In contrast, Barclays, with its quarterly earnings rising 31% to £3.3 billion, driven by its global markets unit and investment banking fees. The British bank also for group income and net interest income.

Global Energy and Commodities Face Shifting Dynamics

Oil prices on Tuesday, fueled by hopes of a potential reopening of the Strait of Hormuz and indications of talks with Iran. Brent crude further declined as President Trump commented on ongoing discussions. Meanwhile, traders saw Treasurys strengthen and the dollar weaken. In a boost for European energy, Eni and Total Energies have taken the final investment decision on a deep-water offshore gas field in Cyprus. In India, the top iron ore-producing state is after some miners were found to be misrepresenting grades to pay lower royalties, a move that threatens to slow exports of low-grade ore.

UK Business and Real Estate Show Divergent Trends

In the UK, accounting firm EY for breaching standards on its audit of furniture retailer Made.com, with the regulator citing reliance on the company's forecasts and inadequate testing. Student accommodation provider Unite Group Plc is planning to sell as many as 20,000 dorms as it reshapes its portfolio to focus on top universities. Consumer goods giant Unilever, however at their fastest rate in 16 years, with World Cup promotions boosting second-quarter sales in Latin America and advancing the company's turnaround. Underlying sales for the Dove soap maker rose 5.8% in the second quarter, excluding ice-cream, leading Unilever to raise its outlook.

Financial Hubs and Executive Movements

Dubai's financial hub, DIFC for the first time, underscoring its continued success in attracting global firms despite heightened geopolitical risks. In India, Standard Chartered Plc has from its wealth business as the lender reorganizes and shifts away from mass-market retail banking. Separately, the de facto US embassy in Taiwan has published a photo of US and Taiwanese coast guard vessels sailing together, a rare move seen as a reassignment to reassure Taipei amid increasing pressure from China.