Australian Consumer Sentiment Jumps 6% in August as Rate Outlook Improves 
Oil Prices Rise as Iran-U.S. Tensions Threaten Strait of Hormuz Supply 
Asian Chip Stocks Plunge as Bond Yields Fuel AI Valuation Fears 
European Stocks Slide as Iran War Escalation Sends Oil Higher 
Oil Prices Rise as US-Iran Tensions Renew Strait of Hormuz Supply Fears 
Asian Currencies Rise as Dollar Hovers Near Multi-Month Lows 
UK Wage Growth Holds at 3.5% as Unemployment Rises 
US Eyes Refinery Boost as Trump Seeks Relief From High Gas Prices 
Citadel Warns High Treasury Yields Pose Broader Market Risks 
Gold Prices Slide as Treasury Yields Surge, Fed Minutes in Focus 
Colombia Earthquake Losses Estimated at $9.58 Billion as Reconstruction Challenge Mounts 
UK Inflation Rises to 2.9% in July as Energy Costs Climb 
US Dollar Slips as Soft Economic Data Eases Fed Rate Hike Expectations 
Wall Street Falls as Oil Prices Rise, Fed Minutes and Retail Earnings in Focus 
China Set to Hold Benchmark Lending Rates Steady for 15th Month 
Trump Says Iran Talks Halted as Strait of Hormuz Dispute Fuels Oil Concerns 
US Dollar Holds Steady as Fed Rate Bets and Iran Tensions Drive Markets 
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Asian stocks fell sharply on Wednesday as a renewed semiconductor selloff battered South Korean and Japanese equities, while high U.S. Treasury yields and Middle East tensions weakened investor appetite for technology and other growth stocks.
The MSCI Asia Pacific Index dropped about 2%, tracking losses on Wall Street after the Philadelphia Semiconductor Index plunged 5.6%. Micron Technology sank 7%, while Nvidia declined 2.3%, adding to concerns over stretched AI and semiconductor valuations.
Bond markets also remained a key source of pressure. The U.S. 30-year Treasury yield recently climbed to 5.3371%, its highest since 2007, while the 10-year yield hovered near 4.69% during Asian trading. Higher yields typically weigh on technology stocks by reducing the present value of expected future earnings.
South Korea’s KOSPI led regional losses, tumbling 5.5% to around 6,495 after briefly falling more than 6%. The sharp decline triggered a temporary “sidecar” program-trading halt. Semiconductor heavyweights SK Hynix and Samsung Electronics plunged 8.4% and 7.3%, respectively, as investors took profits following the index’s recent rebound.
Japan also suffered heavy selling, with the Nikkei 225 falling 2.4% and the TOPIX losing 2.7%. Kioxia dropped 8.9%, TDK declined 4.1%, and Sony slipped about 1%.
Chinese markets joined the downturn as the CSI 300 fell 2.4% and the Shanghai Composite dropped 2%. Hong Kong’s Hang Seng was broadly flat. Baidu plunged 12.5% after quarterly revenue missed expectations, while Xiaomi gained 6.4% as investors focused on growth in its electric vehicle and AI businesses.
Elsewhere, Australia’s S&P/ASX 200 fell 0.3%, India’s Nifty 50 opened 0.3% lower, and Indonesia’s benchmark index declined 0.6%.
Investors are now awaiting the Federal Reserve’s July meeting minutes for fresh signals on inflation and interest rates. Persistent Iran-related tensions and Brent crude trading above $90 a barrel are also keeping global markets cautious.
