Global markets come under pressure as a deepening semiconductor selloff sends Asian stocks lower, with the KOSPI falling more than 10% in its worst decline since March. NVIDIA’s latest deal reignites concerns about circular AI investment, while volatility across US semiconductor stocks remains elevated as investors reassess the scale and sustainability of AI spending.
Oil prices extend their retreat as hopes for progress in US-Iran talks grow. President Trump expresses optimism about a potential Iran deal ahead of his meeting with Israeli Prime Minister Benjamin Netanyahu, where the two leaders are expected to discuss Iran and other regional issues. Meanwhile, US Treasuries gain as elevated yields attract buyers ahead of the Federal Reserve’s policy decision, with Citadel Securities warning that Kevin Warsh could deliver a surprise rate hike.
In global trade, China signals a 20% ceiling for US tariffs, while Fertiglobe reports second-quarter revenue above estimates and continues diversifying UAE export routes through overland and maritime logistics. European banks are also looking to follow Wall Street’s lead as competition and market conditions evolve.
Elsewhere, 165 million Americans face extreme heat, wildfires in Europe stabilize as another heat wave approaches, and the Ebola outbreak in Congo continues to escalate.
Chapters:
00:00:00 – Introduction
00:04:56 – Nvidia’s $750B in Deals Reignite Circular AI Fears
00:08:01 – Mehvish Ayub, Bank of Singapore Managed Solutions Advisory Dubai Head
00:14:36 – Iran, Oman Continuing Talks on Hormuz
00:15:42 – Trump to Meet Israel’s Netanyahu Today
00:27:54 – Ahmed El-Hoshy, Fertiglobe CEO
00:33:55 – Jorge León, Rystad Energy Geopolitical Analysis Head
00:40:35 – Ebola Outbreak in Congo Escalates
00:42:46 – European Banks Seek to Follow Wall Street’s Lead
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