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The U.S. Trade Representative announced new 10%-12.5% tariffs on dozens of countries and regions under Section 301, citing forced labor concerns. The tariffs took effect July 24 Eastern Time, replacing expiring global import duties and potentially escalating trade tensions.
Read MoreThe US Senate narrowly rejected a resolution to restrict presidential war powers against Iran, voting 49-47. The Democratic-led measure sought to require congressional authorization for military action. The outcome highlights ongoing tensions between executive authority and legislative oversight in national security matters.
Read MoreOn July 24th, major U.S. stock indices closed lower amid a broad tech sell-off. Tesla plunged over 14% due to disappointing earnings, while Google's market cap fell below $4 trillion. Defense stocks gained, and crypto mining concepts showed strength as investors reassessed growth prospects.
Read MorePayment giant Stripe is reportedly in advanced talks to acquire AI model aggregation platform OpenRouter. The deal, potentially worth around $10 billion, could be finalized shortly. This marks a major consolidation in the AI infrastructure space.
Read MoreThe onshore yuan closed at 6.7777 against the US dollar on July 24, down 27 basis points from the previous night session. Trading volume reached $30.712 billion, reflecting ongoing market adjustments amid broader economic signals.
Read More25 US states and Washington D.C. have filed a federal lawsuit challenging a Trump administration policy linking disaster relief funds to election system reforms. The Department of Homeland Security had announced it would withhold 20% of certain FEMA funds unless states submit plans to adopt paper ballot systems.
Read MoreMoonPay now supports Discover Network cards for cryptocurrency purchases in the United States, marking the third major US card network integration after Visa and Mastercard. This move aims to enhance payment flexibility and reduce checkout friction for users, alongside existing options like Apple Pay and bank transfers.
Read MoreNVIDIA CEO Jensen Huang praised Chinese open-source AI models as excellent, urging the U.S. not to fear them. He opposed restrictions, emphasized the need for both open and closed models, and dismissed 'backdoor' concerns as misconceptions.
Read MoreTesla stock plummeted 15% intraday on July 24, its biggest drop in over a year, after disappointing Q2 earnings raised doubts about its AI and robotics ambitions. Short sellers are on track for a mark-to-market gain of approximately $4.12 billion.
Read MoreInternational oil prices surged over 6% on July 24, with Brent crude reclaiming the $100 per barrel mark. The sharp rally was driven by heightened geopolitical risks, supply concerns, and shifting market sentiment, signaling renewed volatility in global energy markets.
Read MoreOn July 24, Robinhood CEO Vlad Tenev's social media account was compromised, posting a suspicious message with a token contract address flagged as a "SCAM." The post has been deleted, raising security concerns.
Read MoreFollowing an emergency security assessment, Israel's Defense Minister stated the military is prepared for "all scenarios" regarding Iran. He issued a stern warning that any Iranian attack would be met with a "devastating response" from Israel.
Read MoreAlphabet's 100-year bond fell below 90% of face value for the first time, signaling rising market concerns over long-term tech debt. Credit spreads for hyperscale cloud providers are also widening as investors reassess the sustainability of their high-capex business models.
Read MoreOpenAI is deepening its partnership with AMD to co-develop the MI500 series AI chips and future products. The company has already deployed AMD's Helios GPU platform months ago, aiming to build a more powerful and self-sufficient computing infrastructure and reduce reliance on single suppliers.
Read MoreOn July 24, the US Treasury's $21 billion 10-year TIPS auction yielded 2.438%, the highest since the 2008 financial crisis. This result, about 2 basis points above pre-auction expectations, indicates weaker-than-anticipated demand and signals potential shifts in long-term inflation outlooks and bond market sentiment.
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