This content was published on
August 24, 2026 - 09:36
3 minutes
(Bloomberg) — Technology stocks dragged global equities lower in a risk-off start to a week stacked with high-stakes macro events and earnings. Oil fell, offering relief to bonds.Nasdaq 100 futures dropped 0.6%, leading losses among major US indexes. Tech heavyweights in Asia including Samsung Electronics Co., Alibaba Group Holding Ltd. and SoftBank Group Corp. tumbled. Europe’s Stoxx 600 was down 0.1%.Oil snapped a six-day run of gains, with Brent crude falling 1.8% to below $93 a barrel. Traders are awaiting details of Treasury Secretary Scott Bessent’s economic isolation plan for Iran, the latest US attempt to force the Islamic Republic to normalize energy flows through the Strait of Hormuz.Treasury yields fell across the curve, led by declines at the longer end. The dollar halted its slide. Gold headed toward $4,650 an ounce, while Bitcoin eased.Markets are on edge as investors brace for Federal Reserve Chair Kevin Warsh to speak at Jackson Hole on Friday. The event takes on added significance after concerns over ballooning fiscal deficits and persistent inflation sent long-dated yields to multi-decade highs last week, prompting an intervention by Bessent and a pledge to unveil measures to shore up the nation’s finances.The release of the Fed’s preferred inflation gauge on Wednesday will also offer clues on whether policymakers will take action at their next meeting in September after some officials recently reaffirmed concerns about stubborn price pressures. AI bellwether Nvidia Corp. is scheduled to report earnings the same day.“It’s Mr. Warsh’s first crack at it, and I think every chairman of the Fed has tried to establish a solid communication style at Jackson Hole,” said Richard Flynn, managing director at Charles Schwab UK. “Nvidia is a key market mover. We do think that even if the earnings underperform slightly they’re still likely to be incredibly strong.”What Bloomberg Strategists Say…“As investors again lean into dollar debasement trades, global equities look set to rally into a catalyst-packed week featuring Nvidia earnings, US core PCE, and the Jackson Hole symposium.”— David Savage, MLive. For full analysis, click here.Some of the main moves in markets:StocksThe Stoxx Europe 600 fell 0.1% as of 8:34 a.m. London time S&P 500 futures fell 0.2% Nasdaq 100 futures fell 0.6% Futures on the Dow Jones Industrial Average were little changed The MSCI Asia Pacific Index fell 1.2% The MSCI Emerging Markets Index fell 1.6% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1677 The Japanese yen was little changed at 159.10 per dollar The offshore yuan was little changed at 6.7238 per dollar The British pound was little changed at $1.3649 CryptocurrenciesBitcoin was little changed at $77,471.21 Ether rose 0.3% to $2,457.66 BondsThe yield on 10-year Treasuries declined three basis points to 4.71% Germany’s 10-year yield declined two basis points to 3.24% Britain’s 10-year yield declined two basis points to 5.04% CommoditiesBrent crude fell 1.7% to $92.74 a barrel Spot gold rose 0.9% to $4,644.28 an ounce This story was produced with the assistance of Bloomberg Automation.©2026 Bloomberg L.P.
