The US stock indices ended Thursday’s session with a notable decline amid a worsening macroeconomic backdrop and growing investor doubts about the profitability of large‑scale investments in artificial intelligence. By the end of the day, the Dow Jones Index (US30) fell by 0.97%. The S&P 500 Index (US500) declined by 1.21%. The tech‑heavy Nasdaq (US100) closed Wednesday in the red at 2.15%. Corporate earnings triggered massive sell‑offs: Alphabet shares fell by 6.9% due to a sharp upward revision of its capital‑expenditure projections, while Tesla shares plunged by 14.5% amid a drop in quarterly profit. The wave of selling also affected other giants, including Nvidia, Microsoft, Meta, Amazon, Broadcom, and Oracle.

Additional pressure on the market came from the macroeconomic and geopolitical backdrop. The escalation of the maritime blockade in the Middle East triggered a new spike in oil prices and a rise in Treasury yields, intensifying concerns about renewed inflationary pressure.

European indices closed Thursday lower. By the end of the day, Germany’s DAX (DE40) fell by 1.56%, France’s CAC 40 (FR40) closed down 1.64%, Spain’s IBEX 35 (ES35) declined by 1.55%, and the UK’s FTSE 100 (UK100) closed down 0.73%. The European Central Bank (ECB) kept interest rates unchanged as expected. The regulator noted that energy‑price expectations generally align with June estimates but warned that uncertainty remains high and that the full impact of the recent energy shock on inflation is still ahead. ECB leadership emphasized that it will continue monitoring the scale and consequences of this shock, while the ongoing conflict with Iran and the resulting rise in oil prices intensify inflation concerns.

Crude‑oil prices (WTI) on Thursday posted a powerful surge, rising more than 6% and surpassing $92 per barrel. Prices have been rising for five consecutive sessions, reaching their highest level since early June amid a sharp escalation of military conflict in the Middle East and the threat of large‑scale disruptions to global energy supplies. The new wave of tensions was triggered by strong statements from US President Donald Trump, who blamed Iran for Yemeni Houthi attacks on commercial vessels in the Red Sea. Washington threatened Tehran and the militants with a harsh military response, and the US leader announced that a large‑scale strike on Iran was under consideration. These threats followed Houthi attacks on two Saudi oil tankers as part of their declared blockade of Saudi ports.

The US natural‑gas prices (XNG) rose to $2.92 per MMBtu, reaching a two‑week high amid expectations of hotter‑than‑normal weather through August 7, which traditionally boosts electricity demand for air‑conditioning systems. However, the upside potential was limited by a fresh report from the US Energy Information Administration (EIA). According to the agency, gas inventories increased by 32 billion cubic feet in the week ending July 17, exceeding the five‑year average of 30 billion and remaining 6.4% above the five‑year norm, indicating sufficient supply in the market.

On Thursday, Japan’s Nikkei 225 (JP225) rose by 0.46%, China’s FTSE China A50 increased by 0.22%, Hong Kong’s Hang Seng (HK50) gained 1.28%, and Australia’s ASX 200 (AU200) closed up 0.18%. Asian stock markets on Friday posted a broad decline following a sharp sell‑off on Wall Street, triggered by investor doubts about the profitability of major AI‑related investments. The steepest drops were recorded in Japan and South Korea, where technology‑heavy indices came under serious pressure, particularly among major semiconductor manufacturers. An additional negative factor was the introduction by the US of new import tariffs of 10-12.5% on goods from most key trading partners, replacing the expiring global 10% tariff. This revived concerns about the outlook for global trade, despite the absence of retaliatory measures from Asian governments.

The Australian dollar (AUD) fell below $0.698 on Friday, heading toward its first weekly decline in a month amid global U.S. dollar strength, escalating geopolitical risks, and new trade barriers. The surge in Brent crude prices above $100 per barrel following Houthi attacks on tankers in the Red Sea and US President Donald Trump’s threats toward Iran sharply intensified inflation concerns. Additional pressure on markets came from the introduction of new US import tariffs against 60 partner countries, reinforcing investor expectations of a prolonged period of high interest rates worldwide.