Global Markets July 24: Worst Day of the Month for Nasdaq (-2.15%), Surge in Defense Stocks and Record $510 Billion in Venture Investments in AI
Global financial markets wrapped up the week in a state of heightened volatility. The main pressure factors remain the deterioration of sentiment in the US tech sector, rising geopolitical tensions in the Middle East.
Global financial markets wrapped up the week in a state of heightened volatility. The main pressure factors remain the deterioration of sentiment in the US tech sector, rising geopolitical tensions in the Middle East, increasing inflation risks amid high oil prices, and expectations of a continued tight monetary policy from the world's major central banks.
Strongest Decline in a Month in the US: Tesla Dropped 14.5%, Alphabet 7%
US: American indices showed the most significant decline in the last month. The sell-off was led by the tech sector: Tesla shares plummeted by 14.5% due to a drop in free cash flow, while Alphabet lost over 7% due to a surge in AI spending. In contrast, Intel soared more than 9% in after-hours trading on a strong report, and Lockheed Martin gained over 10% amid geopolitical tensions.
Trading Halt on Kospi and New US Import Tariffs
Asia and Europe: Asian exchanges closed in the red following the sell-off in the US IT sector. The South Korean Kospi fell nearly 2%, with the platform temporarily halting automatic trading due to a futures crash. European indices maintained a restrained dynamic (DAX 24,763, FTSE 100 10,639) after the ECB's decision to keep rates unchanged.
Trade Wars: Pressure intensified after the implementation of new US tariffs (10–12.5%) by the Trump administration against the EU, UK, China, and Mexico. European regulators warn of risks to global economic growth.
Brent Surpasses $100 per Barrel, Gold Pulls Back to $4,030
Energy Resources: Geopolitical escalation around Iran and attacks on vessels in the Red Sea have pushed Brent oil prices above $100 per barrel, while WTI is holding at $91.7. The market is pricing in high premiums for supply disruption risks.
Precious Metals: Gold continues its correction to $4,030 per ounce under pressure from a rising US dollar and high yields on US government bonds.
US10Y Yield Above 4.7%, Venture AI Investments Hit Records
Bonds and Currencies: The yield on 10-year Treasuries remains above 4.7% amid expectations of a prolonged tight policy from the Fed and a strong US labor market. The dollar is strong: EUR/USD — 1.1377, GBP/USD — 1.3308, and USD/JPY at 163.84 is pushing the Bank of Japan towards interventions.
Venture: Contrary to public markets, global venture investments in H1 2026 reached a record $510 billion (surpassing all of 2025). Over 40% of the capital ($217 billion) was attracted by AI giants — OpenAI and Anthropic.
Key Factors Influencing the Markets:
| — | Correction in the American tech sector following earnings reports. |
| — | Surge in Brent oil prices above $100 amid Middle Eastern tensions. |
| — | Implementation of new US import tariffs (10–12.5%). |
| — | Strengthening of the dollar and maintenance of 10-year US bond yields above 4.7%. |
| — | Expectations of prolonged tight monetary policy from the US Fed and ECB. |
Conclusion: On July 24, global financial markets remain under pressure from several factors. Weak dynamics in the US tech sector, escalating trade disputes, high oil prices, and high bond yields create cautious investor sentiment. At the same time, sustained demand for AI-related assets and strong corporate results from certain companies continue to create local growth points even amid an overall market correction.