Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Asian stock markets mostly declined on Friday, tracking sustained losses in global technology shares and a weak lead from Wall Street, while Japanese equities managed to stabilize ahead of a closely watched national election. Investor sentiment across the region remained fragile as concerns over artificial intelligence-driven disruptions and heavy corporate spending weighed on risk appetite.
Regional markets followed Wall Street lower after U.S. tech stocks extended sharp declines. S&P 500 Futures slipped 0.2% in late trading, with Amazon.com shares plunging as much as 11% after the e-commerce giant issued an aggressive spending outlook for 2026. The selloff in major U.S. technology stocks spilled over into Asia, pressuring tech-heavy indices across the region.
South Korea’s KOSPI fell 1.7%, reflecting broad losses in semiconductor and technology names, while Hong Kong’s Hang Seng Index declined 1.3% amid continued weakness in Chinese tech stocks. Singapore’s Straits Times Index dropped 0.7%, and India’s Nifty 50 futures edged down 0.1% ahead of a Reserve Bank of India policy meeting, where interest rates are widely expected to remain unchanged.
Mainland Chinese markets showed relative resilience, with the CSI 300 and Shanghai Composite indices trading in a narrow range as investors remained cautious amid ongoing economic uncertainty and mixed policy signals from Beijing.
Japanese stocks stood out as a rare bright spot in Asia. The Nikkei 225 and TOPIX indices rose about 0.7% each as markets turned their attention to Sunday’s national election. Polls suggest Prime Minister Sanae Takaichi’s party is on track for a decisive victory, potentially securing a super-majority that would allow for sweeping fiscal reforms. Expectations of increased fiscal stimulus and tax cuts to offset rising living costs supported equities, although concerns over Japan’s already elevated government debt have unsettled bond markets.
Australian stocks underperformed sharply, with the ASX 200 sliding as much as 2% after Reserve Bank of Australia Governor Michele Bullock struck a hawkish tone. Following the RBA’s first rate hike in two years, Bullock warned that strong domestic demand and tight capacity could keep inflation elevated, prompting markets to price in at least one more interest rate hike this year.
