South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
The S&P 500 closed slightly higher on Tuesday, supported by renewed strength in tech stocks as traders increased their bets on a Federal Reserve rate cut. By the closing bell, the Dow Jones Industrial Average climbed 0.4%, the S&P 500 added 0.2%, and the NASDAQ advanced 0.6%.
Market optimism grew after the latest ISM data signaled continued weakness in U.S. manufacturing, reinforcing expectations that the Fed could begin easing policy as soon as next week. Futures markets now price in an 86% chance of a 25-basis-point cut at the Dec. 9–10 Fed meeting. Softer economic indicators, easing inflation pressures, and recent remarks from Fed officials hinting at earlier-than-expected cuts have fueled this shift in sentiment.
Speculation surrounding future Fed leadership is also influencing markets, with reports suggesting White House economic adviser Kevin Hassett has become the leading contender to replace Chair Jerome Powell when his term expires next year. Adding to the momentum, Bank of America revised its outlook, now anticipating a December cut and projecting two more reductions in mid-2026, citing potential policy changes under new leadership.
In corporate news, Marvell Technology is set to headline a light earnings calendar, while MongoDB surged over 22% after raising its full-year guidance. Media reports also surfaced that Marvell is in advanced talks to acquire AI chip startup Celestial AI in a multibillion-dollar deal.
Dell Technologies gained after President Donald Trump praised the Dell family for announcing a massive $6.25 billion philanthropic initiative, providing $250 to each of 25 million U.S. children as part of the broader “Invest America” program.
Boeing shares jumped 10% after forecasting positive free cash flow for 2026 and securing a $104.4 million U.S. Navy contract for aircraft display repairs.
In crypto markets, Bitcoin rebounded more than 7% to reclaim the $90,000 level, boosting sentiment and lifting related stocks including MicroStrategy, Coinbase, and Marathon.
