Rio Times Global Economy Briefing
The Big Three
A chip rout snapped the record run The Nasdaq fell 1.16% to 25,818.69 as Samsung’s results disappointed and reports emerged that China’s DeepSeek is building its own AI chip, reviving fears the semiconductor trade has run too hot too fast.
Oil roared back on Hormuz fear Brent leapt more than 5% above $76 and WTI topped $72 after the US moved to revoke Iran’s oil-sale licence following tanker attacks near the Strait of Hormuz — a fresh inflation threat that lifted yields.
The Fed door is now creaking towards a hike, not a cut With oil back on the boil, markets nudged the odds of a September rate rise to roughly 58% — a world away from the cuts once priced, and the single biggest variable for Brazil’s real and the Selic path.
