Stocks Suffer Fresh Blow as Markets Hit by Perfect Storm
The Magnificent Seven shed nearly $800 billion in market value as renewed Middle East violence and new tariff actions deepened the global selloff.
- Global markets sank Friday as a Wall Street selloff spread to Asia, with Brent crude hovering above $100 amid mounting geopolitical and inflation pressures.
- Tech giants Google-parent Alphabet and Tesla faced scrutiny over massive capital spending drives, contributing to the Magnificent Seven shedding almost $800 billion in market value on Thursday.
- Escalating Middle East hostilities, including Houthi rebels joining the fight with Tehran, blocked Red Sea shipping and threatened Saudi Arabia's oil exports, sending Brent prices higher.
- Washington imposed new 10-12.5 percent tariffs on 60 trading partners, including China and India, on Thursday, citing forced labor concerns and compounding market turmoil.
- Meta, Microsoft, and Amazon report earnings next week after flagging more than $700 billion in AI spending this year; analyst Angelina Lai at Place Asia wrote future returns will depend on "sustainable earnings growth" rather than thematic exposure alone.
19 Articles
19 Articles
A dangerous mix is brewing on the stock exchange. Iran's war is causing energy prices to rise, while the mood in the AI sector is tilting. A complicated summer threatens.
Sensex down 900 points, Nifty50 closes below 23,800: Five reasons why stock market crashed today
Indian stock markets closed lower for a fifth consecutive session on Friday. Rising oil prices and Middle East tensions fueled investor caution and market pressure. Foreign institutional investors continued their selling trend, impacting market sentiment negatively. Renewed concerns over US trade tariffs also contributed to the overall market decline. Selling in heavyweight stocks like Infosys and HDFC Bank added to the day's losses.
Stocks suffer fresh blow as markets hit by perfect storm
While traders in the past have been able to offset the bad news in one area by focusing on the positives elsewhere, analysts said they were now struggling to fire-fight on three fronts. Tech firms were once again bearing the brunt of the selling owing to growing concerns about the colossal sums ploughed into artificial intelligence hardware, factories and research, with many now questioning when they will see returns. And it has been the big bea…
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