US Markets: Stocks Rise, But Tech Stumbles
On July 27, the Dow jumped 0.5% to 51,947, while futures surged as much as 580 points in the morning following the announcement of a pause in hostilities between the US and Iran. At the same time, the Nasdaq continued to slide on a sell-off in tech, chip, and memory stocks amid the listing of Chinese manufacturer CXMT on the Shanghai Stock Exchange. The direct takeaway: elites are ready to immediately buy back risk on news of de-escalation, but are simultaneously taking profits in the overvalued AI segment, where real competition from China is emerging.
Asia: Gains on the News, But With an Eye on China
The Nikkei, Kospi, Hang Seng, and Shanghai Composite added between 0.5% and 1.2%, while the ASX 200 rose 1.4% on general relief over the Middle East. At the same time, Micron and SanDisk shares collapsed on news that China is launching its own memory production. This means Asian elites are welcoming the pause in the war, but are already beginning to shift their bets toward Chinese technology supply chains, rather than relying solely on American ones.
Oil Markets: Sharp Collapse After a Week of Panic
Brent crude plunged from a peak of $102 last week to $85.5, losing nearly 9% in a single session on July 27, while WTI fell 7% to $82.6. The direct connection: elites are effectively pricing in a genuine pause in the conflict rather than a temporary lull. This sharp removal of the geopolitical premium suggests that the market has come to believe in negotiations more than in continued escalation.
Defense Industry: Britain Builds Autonomy Without Waiting for the US
Amid the pause with Iran, Britain proposed on July 20 that Canada join the GCAP fighter jet program in order to reduce European allies' dependence on American weapons. This is a direct signal that part of the European elite is using any temporary lull not to rest, but to accelerate the construction of a defense infrastructure independent of Washington. The bet on long-term rearmament remains unchanged even as immediate military risk declines.
.png){kind=icon}
.png){kind=icon}
.png)
.png){kind=icon}
