Asian tech stocks slide as AI rally unwinds, oil set for biggest weekly gain since April Oil steady despite fresh wave of strikes across Gulf, Iraq and Iran Rupee nears record low as RBI intervenes but oil, risk aversion weigh China’s SAFE says FX market stable, resilient amid…
mplex global backdrop Asian and US equities slide as Nikkei drops 4.25%, Nasdaq futures down 1% Trump’s China election claims risk unsettling trade truce ahead of Xi meeting Oil edges higher as US-Iran attacks widen to Jordan, Bahrain and Kuwait Trump blaming China for election breach back in 2020 PBOC sets USD/ CNY reference rate for today at 6.7934 (vs. estimate at 6.7734) (Unconfirmed) Reports that Iran has targeted King Fahd Causeway connecting Bahrain to Saudi Arabia Singapore June exports rise 20.7% but miss forecasts on non-electronics weakness Equities selling off, Nikkei down 3%. US equities lower also Bernstein lifts 2026 gold target to $4,533 on central bank buying, muted Fed hikes US bombs Iranian bridges to sixth day of strikes, choke off Bandar Abbas supply Vice Chair Jefferson says Fed policy well positioned, but hike possible if inflation stays sticky New Zealand data – June 2026 Food Price Index +0.6% m/m (prior +1.0%) Decades long bull turns bearish
Cites structural deficits, inflation, and AI-driven borrowing in historic bearish pivot. Iran war escalates as US strikes bridges, rail hub; oil edges lower on Globex reopen ICYMI – Fed’s Logan flags AI-driven inflation risk, sees no wage pressure for now US military confirms actions to enforce naval blockade of Iran, ships boarded, ships ‘disabled’ US attacks on Iran toll on – bridges, railway stations hit Gold slides circa 2% as Middle East tensions boost dollar, rate hike bets, Where now for gold? AI and chip stocks continue to slide sending the Nasdaq down near -1.5% Oil dips near one-month high as Iran war escalation threatens both key export routes – the range to watch In brief: US struck three bridges in Iran’s