Chip Selloff Deepens as AI Fears Hit Asian Stocks | Horizons Middle East & Africa 7/28/2026
Global markets come under pressure as a deepening semiconductor selloff sends Asian stocks lower, with the KOSPI falling more than 10% in its worst decline
Global markets come under pressure as a deepening semiconductor selloff sends Asian stocks lower, with the KOSPI falling more than 10% in its worst decline since March. NVIDIA's latest deal reignites concerns about circular AI investment, while volatility across US semiconductor stocks remains elevated as investors reassess the scale and sustainability of AI spending. Oil prices extend their retreat as hopes for progress in US-Iran talks grow. President Trump expresses optimism about a potential Iran deal ahead of his meeting with Israeli Prime Minister Benjamin Netanyahu, where the two leaders are expected to discuss Iran and other regional issues.
Meanwhile, US Treasuries gain as elevated yields attract buyers ahead of the Federal Reserve's policy decision, with Citadel Securities warning that Kevin Warsh could deliver a surprise rate hike. In global trade, China signals a 20% ceiling for US tariffs, while Fertiglobe reports second-quarter revenue above estimates and continues diversifying UAE export routes through overland and maritime logistics. European banks are also looking to follow Wall Street's lead as competition and market conditions evolve. Elsewhere, 165 million Americans face extreme heat, wildfires in Europe stabilize as another heat wave approaches, and the Ebola outbreak in Congo continues to escalate.
Chapters 00:00:00 - Introduction 00:04:56 - Nvidia's $750B in Deals Reignite Circular AI Fears 00:08:01 - Mehvish Ayub, Bank of Singapore Managed Solutions Advisory Dubai Head 00:14:36 - Iran, Oman Continuing Talks on Hormuz 00:15:42 - Trump to Meet Israel's Netanyahu Today 00:27:54 - Ahmed El-Hoshy, Fertiglobe CEO 00:33:55 - Jorge León, Rystad Energy Geopolitical Analysis Head 00:40:35 - Ebola Outbreak in Congo Escalates 00:42:46 - European Banks Seek to Follow Wall Street's Lead More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance Visit for business news & analysis, up-to-the-minute market data, features, profiles and more.
Connect with Bloomberg Television on Connect with Bloomberg Business on TikTok Reddit More from Bloomberg Bloomberg Radio Bloomberg Surveillance Bloomberg Politics Bloomberg Originals Watch more on Bloomberg Technology Bloomberg Originals Bloomberg Quicktake Bloomberg Espanol Bloomberg Podcasts
The BriefWire