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Asian Stocks Decline on Tariffs, US-Iran Tension; KOSPI Down Over 4.5%
Asian stock markets fell across the board on Friday as US President Trump's new tariffs and escalating US-Iran conflict dampened risk appetite. Japan's Nikkei dropped nearly 3%, while South Korea's KOSPI underperformed with a decline of over 4.5%.
ECB's Nagel: Central bank well-positioned for surging energy prices
European Central Bank Governing Council member Joachim Nagel said the central bank is in a good position to respond to rising energy prices.
Markets May Be Running Ahead of Reality, Analyst Warns
Financial markets tend to price in future expectations, but current optimism may be detaching from underlying economic fundamentals, according to analysts.
Trump: US Will Use Iranian Funds to Pay for Damages
Former President Donald Trump stated that any damages to ships or cargo will be paid for using Iranian money currently held by the United States.
WTI Holds Above $90 After 10% Weekly Surge Amid Middle East Escalation
West Texas Intermediate (WTI) oil price trades around $90.20, halting a three-day winning streak but still on track for a 10% weekly surge amid escalating tensions in the Middle East.
Brent Tops $100 on Trump-Iran Threats; Gold Plunges 2%
Brent crude rose above $100, its highest since May, after Trump threatened to escalate conflict with Iran following Houthi attacks on Saudi oil tankers. Treasuries fell, the dollar strengthened, and gold dropped nearly 2% to $4,050 as markets fully priced a Fed rate hike by September.
Asian Stocks Drop After Tech-Led Wall Street Selloff; Alphabet, Tesla Plunge
Asian equities fell as a tech selloff on Wall Street spilled over, with the MSCI Asia Pacific Index down 0.8% following a 1.2% drop in the S&P 500 and a 1.9% decline in the Nasdaq 100. Alphabet sank 7.1% on higher capex forecast and Tesla tumbled 15% on disappointing profits.
Iran Warns of Retaliation Against Energy Sites if Trump Hits Strait Infrastructure
Iran's foreign minister said Tehran will retaliate against regional infrastructure, including energy facilities, if President Trump follows through on threats to destroy bridges or power plants in response to attacks on vessels in the Strait of Hormuz.
US Begins 13th Night of Strikes; Brent Tops $100 on Houthi Tanker Attacks
US Central Command launched a 13th consecutive night of strikes targeting Iran-backed groups, while Houthi claims of hitting two Saudi oil tankers pushed Brent crude above $100 for the first time in nearly two months.
Iran Reports Enemy Missile Attack on Site in Khondab, Markazi Province
Iranian state media reports an enemy missile strike on a site near Khondab in Markazi Province, according to the deputy governor.
US imposes sweeping tariffs of 10-12.5% on major trading partners
President Donald Trump has announced new tariffs ranging from 10% to 12.5% on imports from most major trading partners, marking his most aggressive trade action to date.
Trump Vows to Punish Iran for Houthi Attacks in Red Sea
US President Donald Trump warned that the US will hold Iran responsible for Houthi attacks in the Red Sea and threatened a 'major military punishment' against both Iran and the Houthis.
Australia Trade Minister Calls New U.S. Tariffs Unwarranted, Vows to Push for Removal
Australia's trade minister has labeled the latest U.S. tariffs as unwarranted and confirmed Canberra will continue pressing Washington to eliminate all trade barriers.
Japan Weekly Order Flows Turn Negative Across the Board
Japanese investors sold ¥714.4 billion of foreign bonds and ¥121.3 billion of foreign stocks, while foreign investors sold ¥185.1 billion of Japanese bonds and ¥76.6 billion of Japanese stocks for the week ended July 17.
US Launches 13th Consecutive Night of Strikes on Iranian Military Targets
The US military has conducted airstrikes against Iranian military targets for the 13th straight night, according to a report from The Guardian. CENTCOM says the operation aims to hold Iran accountable and reduce threats from the IRGC.
U.S. Troops Seriously Wounded in Iranian Strikes Evacuated to Germany
Nearly a dozen U.S. troops with serious wounds from recent Iranian strikes were evacuated to a military hospital in Germany, part of roughly 100 American service members injured since early July. The Pentagon reports most suffered mild concussions and have returned to duty.
Trump Says Frozen Iranian Assets to Pay for Houthi Attack Damages
President Trump stated that frozen Iranian assets will be used to compensate for ship and cargo damages caused by Houthi attacks. The US holds approximately $2 billion in Iranian funds, with tens of billions more frozen under sanctions abroad.
Japan June National CPI Rises 1.7% YoY, In Line with Estimates
Japan's June national CPI increased 1.7% year-on-year, matching expectations and accelerating from 1.5% in May. Core CPI (ex fresh food) came in at 1.6% vs 1.6% expected, while core-core CPI (ex fresh food and energy) was 1.7% vs 1.8% expected.
USAF reactivates large-scale airbridge to Middle East after Iran ceasefire collapse
Dozens of U.S. Air Force cargo planes, including C-17s and other heavy-lift aircraft, are flying from European bases to the Middle East as the June ceasefire with Iran fell apart in early July.
U.S. Forces Launch 13th Consecutive Night of Strikes Against Iranian Targets
U.S. Central Command announced that U.S. forces began another night of strikes against Iranian military targets at 6:45 p.m. ET, marking the 13th consecutive night of operations aimed at holding Iran accountable and protecting commercial shipping from the Islamic Revolutionary Guard Corps.
Australia's Manufacturing PMI Rises to 51.7 in July
The S&P Global Manufacturing Purchasing Managers Index (PMI) for Australia edged up to a preliminary 51.7 in July from 51.5 previously, signaling continued expansion in the sector.
Trump: Iranian Funds Held by US Will Pay for Any Damages to Ships
President Trump announced that any damages to ships, cargo, or related items will be covered by Iranian funds currently held by the United States "from this point forth."
S&P 500 Returns Double US Home Prices Over 50 Years
Since 1975, the S&P 500 has averaged a 12.2% annual total return versus 5.1% for US home prices, highlighting stocks' superior long-term wealth creation.
Trump: US Will Use Iranian Funds to Pay for Ship, Cargo Damages
Former President Trump stated that until further notice, all damages to ships, cargo, or related items will be covered by Iranian money held under US control, calling it fair and equitable despite potentially substantial costs.