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U.S. stocks sank sharply after Fed chair Kevin Warsh’s hawkish debut shocked markets, with the S&P 500 posting its worst “Fed day” performance for a new chair since 1994.

CME CEO Terrence Duffy said the exchange operator plans to sue the CFTC over perpetual futures.
Market-watchers flagged several stock stories expected to influence the next trading session.
Jeffrey Gundlach suggested Kevin Warsh may not be the “easy money” Fed chair some investors had hoped for.
Financial stocks were highlighted as having many names close to breakout levels.
JPMorgan told clients to be aggressive buyers of a particular semiconductor stock.
Wells Fargo said investors should focus on income-generating investments and identified areas of opportunity.
A medical diagnostics stock was shown on charts to be setting up for a strong move higher.
One travel stock appeared to be forming a bullish breakout, with traders watching for an entry setup.
Commentary claimed Elon Musk is gaining an edge in a specific area, while SpaceX trading activity drew strong attention from analysts and options traders.
AI, chip, and Fed-related headlines dominated the broader news flow, including memory-chip developments, analyst rating changes, corporate departures, legal fights, and market reactions to Warsh’s hawkish debut and Iran-related oil concerns.

HK stocks fell sharply as the Hang Seng Index dropped 387 points, with tech and heavyweight shares leading the decline despite strong trading turnover.

Hong Kong Exchanges and Clearing (HKEX) and the China Financial Futures Exchange renewed their cooperation memorandum, reinforcing cross-market collaboration.
Town Gas said it will raise standard gas charges from August 1, increasing the rate by 1.25 cents per megajoule, or 4.4%.
Guofu Quantum warned that its annual loss may widen to as much as about HK$2.138 billion.
China Tobacco Hong Kong expects first-half net profit to fall by 10% to 15% year on year.
Hong Kong stocks closed sharply lower, with the Hang Seng Index down 387 points, while some AI-related names surged strongly.
Hang Seng Bank said the market will find it harder to judge the Fed’s policy path, with U.S. inflation data and oil prices now key to rate expectations.
Mainland authorities issued guidance to accelerate “AI + consumption,” including faster robot adoption in consumer-facing scenarios.
HKEX and the Hong Kong Monetary Authority launched a pilot scheme to provide digital payment solutions for post-close trading in derivatives.
Hong Kong’s competitiveness ranking rose to second globally in the 2026 World Competitiveness Yearbook, and the local property index also recovered.
China’s financial regulators and central bank announced multiple reform measures at the Lujiazui Forum, including broader capital-market support for AI, hard-tech firms, and financial opening.

Tokyo stocks surged to a record high, with the Nikkei briefly topping 71,000 for the first time, driven by easing geopolitical fears and gains in tech shares.

English translation: Tokyo stocks closed at a record-high first 70,000 level, extending gains for the sixth straight session, after U.S. President Trump declared an end to the fighting with Iran.
English translation: Mitsubishi UFJ Bank is supporting small and medium-sized businesses by buying invoices so they can receive cash without waiting for payment.
English translation: Tokyo stocks ended the morning session 1,150.05 yen higher than the previous close at 71,052.30 yen.
English translation: At 11:00 a.m., the Nikkei stood at 71,060.27 yen, while the TOPIX also hit a new all-time high.
English translation: The yen traded in the upper 160-yen range against the dollar at 10:00 a.m. Tokyo time, returning to pre-intervention levels and raising警戒 (concern) about possible intervention.
English translation: Tokyo stocks surged further, briefly breaking above 71,000 yen for the first time, with high-tech shares helping push the market higher as TOPIX also set a record.
English translation: The yen started trading in the upper 160-yen range as expectations of U.S. Federal Reserve rate hikes encouraged selling of yen and buying of dollars.
English translation: In New York, the yen fell against the dollar, touching 160.79 yen at one point, its weakest level in 1 year and 11 months.
English translation: U.S. stocks fell for the first time in five sessions, dropping 507 points as investors grew cautious about the Fed’s hawkish stance.
English translation: Kyoto’s Kameoka City rejected a proposal related to the Hokuriku Shinkansen extension, with JR West’s shareholders’ meeting also addressing the issue.

Tokyo stocks hit a historic milestone, surpassing 70,000 yen for the first time and extending their rally.
Investor sentiment was supported by the announcement that fighting between the U.S. and Iran had ended.
The Nikkei rose sharply in the morning session, reflecting strong market momentum.
The TOPIX also climbed to a record high, showing broad strength in the Japanese market.
The yen weakened into the upper 160-yen range per dollar, reviving fears of currency intervention.
High-tech stocks were a major driver behind the Tokyo market’s gains.
Yen selling and dollar buying intensified on expectations of additional U.S. rate hikes.
The yen also weakened further in New York, reaching levels not seen in nearly two years.
U.S. stocks turned lower as concerns grew over the Fed’s continued tightening bias.
Other headlines covered regional infrastructure disputes, corporate financing support, industrial operating rates, IPO timing, AI use in public safety, and leadership/corporate commentary.

Bitcoin and ether ETFs saw $111 million in combined outflows as hawkish Fed signals crushed hopes for near-term rate cuts and pressured crypto prices.

The bond market is signaling that interest rates may stay higher for longer, which is a warning for Bitcoin bulls.
Bitcoin and ether ETFs saw $111 million in combined outflows as expectations for a near-term rate cut faded.
Strategy’s STRC preferred stock dropped to a record low and fell below its par value.
XRP fell 4% and moved back below $1.20 after its breakout rally lost momentum near a major resistance level.
Kraken said buying Bitcoin below its 200-week moving average has historically produced median gains of more than 100%.
Bitcoin and ether declined after a hawkish Federal Reserve meeting, even though stocks were lifted by Trump’s signed Iran deal.
Bitwise’s CIO said the next crypto bull market may be slower and less volatile as investor behavior matures.
The CME chief said the company intends to sue the CFTC after approval of perpetual futures, signaling a major regulatory dispute.
Kentucky is moving to target prediction markets, creating a possible conflict with Trump’s team over crypto and betting rules.
Fidelity has joined the competition among major financial firms to manage stablecoin reserves.

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