QtrendsGlobal markets are rocked by a broad tech sell-off that dragged Asian and U.S. equities lower, while escalating U.S.-Iran tensions push oil prices higher and threaten shipping lanes in the Persian Gulf. Trump's renewed threat of 100% tariffs on European imports over digital services taxes is met with defiance from the EU. Separately, the White House asked OpenAI to cap its newest GPT-5.6 model release, boosting confidence in enterprise software rivals like ServiceNow and Salesforce.
Global stock markets took a hit as technology shares slumped following a turbulent week. Asian markets saw broad declines, while U.S. tech stocks were among the hardest hit as investors rotated away from high-growth names. Analysts flagged several IT stocks including Coforge and LTIMindtree as oversold, suggesting potential entry points for long-term buyers despite ongoing pressure.
The United States confirmed a retaliatory strike on Iran following recent hostilities, pushing oil prices higher in after-hours trading. The renewed conflict has raised concerns in the shipping insurance market, where war-risk premiums had only recently fallen. Shipping recovery in the Persian Gulf now faces renewed threats that could disrupt global trade routes.
Former President Trump has threatened to impose 100% tariffs on European imports if EU countries move ahead with digital services taxes on American tech companies. The warning, however, was met with relative calm from European markets, as analysts viewed it as a familiar negotiating tactic. The EU has vowed a swift response, signaling that trade tensions between the U.S. and Europe may escalate further.
The White House has asked OpenAI to limit the release of its next-generation GPT-5.6 models, prompting the company to impose usage caps for users. The move has reshaped the AI landscape, with enterprise software stocks like ServiceNow and Salesforce surging as investors bet that OpenAI's competitive threat may be effectively contained by regulatory pressure.