International markets update:
The week concludes with heightened political rhetoric dominating headlines, as President Donald Trump’s fiery speech introduces new uncertainties into U.S.-China relations and the electoral system. Meanwhile, tech stocks continue to experience pressure, reflecting broader market volatility.
- President Trump’s overnight address sparked controversy by accusing China of extensive meddling in the 2020 election, potentially complicating the U.S.-China trade truce and upcoming diplomatic visits.
- Trump further sowed doubts about the U.S. voting system, alleging “shocking vulnerabilities” and the illicit acquisition of U.S. voter files by China based on newly declassified documents.
- Trump Media and Technology Group launched “Truth API,” a paid data feed offering trading firms rapid access to Truth Social posts from key accounts, set for release on August 1.
- Asian chip stocks mirrored a Wall Street AI sell-off, with declines particularly pronounced in Japan, fueled by concerns over excessive spending and TSMC’s earnings failing to meet high expectations.
- Netflix shares dropped over 8% in after-hours trading after the streaming giant’s latest earnings forecast disappointed investors, despite healthy content engagement.
- President Trump’s longtime teleprompter operator was suspended amid a federal investigation into alleged bets on a prediction market platform related to Trump’s statements.
Stock Market News summarised for the Wall Street Investors Club community.