Public Markets 8 Hours

Last updated: July 17, 2026, 5:30 AM ET

Tech Stocks Tumble Amid AI Selloff, Insider Selling Heats Up

US equity futures fell sharply as a selloff in semiconductor stocks gathered steam, pushing investors toward alternative sectors. Losses for the Nasdaq were set to deepen, with stocks across the AI complex declining in premarket trade. Investor concerns regarding the artificial intelligence buildout are growing. The MSCI Emerging Markets Index slumped, with a key gauge headed for a technical correction as mounting concerns over stretched AI valuations triggered a selloff in chip stocks 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. US corporate insiders are selling shares at the second-fastest pace in more than 20 years, a classic red flag suggesting people with the most corporate knowledge are wary.

European Equities Rally, Amundi Eyes Energy Transition, Burberry Boosted

Strategists are increasingly optimistic about European stocks, with UBS and Deutsche Bank raising targets for the Stoxx 600 amid accelerating earnings growth and confidence the rally can withstand geopolitical jitters. Amundi SA wants the European Union to permit asset managers to add oil and gas exposures to a new fund category intended to support the transition to a lower-carbon economy. The firm also expects to book a net capital gain of around €300 million ($343 from the initial public offering of its asset management joint venture in India. UK luxury brand Burberry reported growth boosted by demand from the US and China, particularly with Gen Z consumers, as it moves forward with its turnaround plan.

Gold Dips Amid Geopolitical Tensions, Dollar Stabilizes

Gold prices a troy ounce and were on track for a weekly decline of more than 3%, as hostilities between the U.S. and Iran fueled rate-hike bets. The dollar edged lower as oil prices stabilized, even as the conflict continued. Meanwhile, two US-sanctioned tankers carrying cooking fuel are U-turning and zig-zagging in the Gulf of Oman and Arabian Sea, part of a flotilla of vessels laden with Iranian energy exports facing an aggressive blockade. Industrial metals retreated as traders weighed the likelihood of higher interest rates and their negative impact on demand.

Indian IPO Market Sees Valuation Adjustments, Defense Demand Strong

Indian fast-delivery company Zepto Ltd. is seeking a valuation in its initial public offering sharply below its $7 billion peak, as concerns over cash burn temper optimism around the industry. Separately, India’s Manipal Health Enterprises Ltd. is seeking a lower valuation of about 800 billion rupees ($8.3 in its planned initial public offering. The National Stock Exchange of India Ltd., operator of the world’s largest derivatives exchange, has received a ‘sell’ recommendation just as it gears up to launch the country’s biggest IPO. Swedish defense company Saab backed its guidance as defense demand remains strong, signing several large orders recently.

Treasuries Shorted as Growth Diverges, Hong Kong Stocks Discount Widens

UBS Asset Management’s Kevin Zhao is planning to short Treasuries in a bet that the robust US economy will erode the haven appeal of owning government debt. Hong Kong stocks’ valuation discount to their mainland-listed counterparts is widening, driven largely by liquidity strains and Beijing’s crackdowns on capital outflows. Michael Burry, the investor made famous in The Big Short, recommends bargain hunting in Hong Kong’s stock market after it lagged peers during the global AI rally this year.

Philippines Seeks Retail Boost, Abu Dhabi Attracts Talent

The sole stock exchange in the Philippines is preparing a slew of measures, including new exchange-traded funds, to attract retail investors away from online gambling and cryptocurrency trading. The Abu Dhabi Investment Council has hired a former BlackRock Inc. and Macquarie Group executive to lead its real assets business, underscoring the emirate’s ability to attract senior global investment talent.