Trump Imposes New US Tariffs on Drone Imports Over National Security Concerns 
Asian Currencies Steady Ahead of US CPI as Oil Prices Rise 
Gold Prices Rise as Weak US Retail Sales Cut Fed Rate Hike Bets 
KOSPI Eyes Best Weekly Gain Since June as Samsung, SK Hynix Rally 
Oil Prices Fall as U.S. Crude Inventories Surge and Hormuz Tensions Persist 
US Dollar Holds Firm as Fed Outlook and Iran Tensions Keep Markets on Edge 
S&P 500 Hits Record High as Soft Inflation Data Eases Fed Rate Hike Fears 
European Stocks Steady as U.S.-Iran War, Euro Zone Data Keep Investors Cautious 
Asian Stocks Rally as Cooling US Inflation Boosts Fed Rate Outlook 
France Inflation Rises 2.4% in July as Consumer Prices Increase 
S&P 500 Retreats From Record High as AI Stocks Slide, Retail Sales Disappoint 
Gold Prices Retreat From Two-Month High as Softer Inflation Eases Fed Rate Hike Bets 
Oil Prices Slide as OPEC, IEA Cut 2026 Demand Forecasts 
European Stocks Rise as U.S. Inflation Data Eases Fed Rate Hike Fears 
Strait of Hormuz Shipping Near Standstill After New Vessel Attacks 
UK Economy Posts Surprise June Growth as World Cup and Hot Weather Lift Activity 
KOSPI Rebounds 20% as Samsung, SK Hynix Lead South Korea Stock Rally 
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European Stock Markets Show Mixed Results
European stock markets traded in a mixed fashion on Tuesday as investors evaluated third-quarter corporate earnings amid uncertainty regarding global economic growth and interest rate trajectories.
As of 03:10 ET (07:10 GMT), Germany's DAX index was up by 0.5%, while France's CAC 40 fell by 0.1%, and the UK's FTSE 100 declined by 0.4%.
IMF to Update Global Growth Forecasts
The European Central Bank recently cut interest rates for the first time back-to-back since 2011 due to concerns over the region's economic activity. Later today, the International Monetary Fund (IMF) will update its global growth forecasts. IMF Managing Director Kristalina Georgieva highlighted a weak outlook for the global economy, emphasizing challenges in China and Europe.
Corporate Updates
In corporate news, HSBC shares dipped 0.4% after announcing the appointment of Pam Kaur as its first female finance chief and a consolidation into four business units. Conversely, SAP stock surged over 5% after raising its full-year targets, driven by a strong cloud business and artificial intelligence growth.
Mulberry rejected a second takeover proposal from the Frasers Group, labeling it as "untenable." InterContinental Hotels saw a 2% decline despite reporting growth in third-quarter room revenue, citing a subdued U.S. market. In contrast, Randstad shares rose 4% after slightly beating quarterly profit expectations.
Oil Prices Dip on Demand Concerns
Oil prices fell due to concerns about global demand, particularly from China. The Brent contract slipped 0.7% to $73.74 per barrel, while U.S. crude futures (WTI) fell 0.7% to $69.54 per barrel. The International Energy Agency's Fatih Birol warned that economic weakness in China would continue to hinder global oil demand.
