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Hour in Review — 2026-07-29 06:00 UTC0 sources
Global markets faced a notable divergence this hour, as strong earnings from major financial institutions like Deutsche Bank, UBS, and Standard Chartered provided a counterpoint to significant turbulence in the semiconductor and technology sectors. A sharp sell-off in Asian tech stocks—highlighted by a slump in SK Hynix, SoftBank, and the KORU ETF—underscores growing investor anxiety surrounding the chip market, even as leaders like Mark Zuckerberg advocate for accelerated AI development. Simultaneously, geopolitical tensions between the U.S. and Iran have pushed oil prices higher, adding another layer of risk to the landscape. While banks report consistent growth, the broader market remains caught between this financial resilience and deepening instability in the technology and energy sectors.