South Korea’s Composite Stock Price Index (KOSPI) surged over 16% in a single day, marking its largest daily gain in history. A strong rebound in chipmaking stocks led the historic rally, with heavyweights like Samsung Electronics and SK Hynix posting substantial gains.
Apple reported record quarterly revenue for the June quarter, driven by strong iPhone sales and tariff refunds. The performance exceeded market expectations, showing resilient demand in consumer electronics despite macroeconomic uncertainties.
Despite announcing a massive increase in AI capital expenditure, Amazon shares surged approximately 10%. Market confidence in Amazon’s AI strategy drove the rally, showing strong investor approval for tech giants’ large-scale AI investments.
Core Summary US stocks suffered a major selloff on July 29, with the Dow Jones Industrial Average plunging 900 points, a drop of over 2%, marking the largest single-day decline in recent weeks. Market panic intensified ahead of the Federal Reserve’s upcoming interest rate decision, as investors grew deeply concerned about recession risks and monetary policy direction. Analysts warn that market volatility could persist for weeks. Event Details According to CNBC, the Dow Jones Industrial Average closed down 900 points on July 29, with the S&P 500 and Nasdaq Composite also falling sharply. This selloff was driven by multiple converging factors: Federal Reserve policy uncertainty, mixed corporate earnings performance, and escalating geopolitical tensions. ...
Apple’s market capitalization surpasses $5 trillion, making it the second company ever to reach this milestone. Meanwhile, investors are pulling back from overvalued AI stocks and rotating into more stable tech blue chips.
[Core Summary] On July 28, global chipmaker stocks suffered heavy losses in US and Asian markets, with South Korea’s KOSPI index plunging 10% and triggering a trading halt. The selloff was driven by investor concerns over the return on AI investments and fears of intensifying competition from China, marking a significant test for the tech bull market. [Event Details] According to BBC, South Korean stocks suddenly tumbled in Tuesday morning trading, with the composite index dropping 8% to 10% in a short period, forcing the exchange to activate circuit breakers and halt trading. This marks the worst single-day decline for the Korean market since March 2020. ...
[Core Summary] Johnson & Johnson announced on July 28 a settlement offer of up to $5.5 billion to resolve years-long litigation claiming its talc-based baby powder products caused cancer. If approved by the court, the settlement would provide compensation to thousands of consumers who alleged that the company’s talc products were contaminated with asbestos. [Event Details] In court filings submitted Tuesday, J&J said it would establish a $5.5 billion compensation fund to resolve all pending talc-related cancer lawsuits. The company emphasized that the decision does not constitute an admission of product safety issues, but rather aims to “avoid the uncertainty and costs of prolonged litigation.” ...
The CEO of US restaurant chain Cracker Barrel has stepped down, one year after a brand logo controversy drew criticism from conservative consumers and former President Trump.
International crude oil prices fell sharply after both the US and Iran announced pauses in military strikes, creating a window for diplomatic negotiations to end the Strait of Hormuz standoff. This de-escalation signal caused oil prices, which had surged due to Middle East tensions, to rapidly retreat, giving global energy markets a brief respite.
The United States has formally imposed new tariffs on approximately 60 trading partners, citing their failure to prevent forced labour in supply chains. This marks the transition from proposal to enforcement, with significant implications for global manufacturing and trade patterns.