U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Asian stocks traded on shaky ground on Wednesday as global markets digested sharp losses in U.S. and European equities, driven by growing fears that rapid advances in artificial intelligence could disrupt traditional software and professional services industries. While selling pressure was milder in Asia, the cautious tone reflected broader uncertainty around the future impact of AI on global growth and corporate earnings.
MSCI’s Asia-Pacific shares outside Japan slipped 0.2%, while Japan’s Nikkei dropped 1.23%. South Korea’s technology-heavy KOSPI edged down 0.14%, and Taiwan stocks fell 0.68%. Nasdaq futures declined 0.25% after a steep overnight loss, with S&P 500 and EUROSTOXX 50 futures also slightly lower. Analysts noted that Asia was relatively insulated, given its stronger exposure to hardware manufacturing rather than software-centric business models.
Investor anxiety intensified after Anthropic launched new plug-ins for its Claude Cowork agent, fuelling concerns of AI-driven disruption across data analytics, software, and consulting firms. Market strategists highlighted that the “AI trade” is increasingly dividing between winners and losers, rather than lifting the entire technology sector.
In commodities, oil prices climbed as geopolitical tensions resurfaced in the Middle East. Brent crude rose 1% to $68.03 a barrel, while U.S. crude gained 1.1% to $63.90. The move followed reports that the U.S. military shot down an Iranian drone near an aircraft carrier and that Iranian boats approached a U.S.-flagged tanker in the Strait of Hormuz, a critical oil shipping route for Asia.
Precious metals rebounded after a recent selloff, with spot gold rising 1.5% to $5,014 an ounce and silver gaining 1.7%. The earlier rout was triggered by expectations that a more hawkish Federal Reserve, under nominee Kevin Warsh, could shrink its balance sheet, pressuring non-yielding assets.
Currency markets were steadier, with the dollar pausing its rally. The yen weakened past 156 per dollar ahead of Japan’s election, while the euro and sterling held firm. Bitcoin hovered near multi-month lows as investors reassessed risk amid shifting Fed expectations.
