Asian Markets Struggle as Oil Prices Rise and AI Stocks Fall

WHO:

AP News - President Trump stated the U.S. would hit Iran “very hard” after an attack on a U.S. base in Jordan.

Yahoo Finance - Kevin Warsh is the Chairman of the Federal Reserve.

WHAT:

AP News - Oil prices rose, with Brent crude increasing by 0.6% to $88.60 per barrel and benchmark U.S. crude rising by 0.3% to $84.70 per barrel.

AP News - The South Korean Kospi index fell 1.2% to 5,593.56, marking a decline of more than 38% from its all-time high of over 9,100 in June.

Yahoo Finance - The 30-year Treasury bond yield hit a 19-year high of 5.244%.

Yahoo Finance - The S&P 500 dropped 1.5% to 7,316.15, the Dow Jones Industrial Average fell 2.2% to 51,594.14, and the Nasdaq composite lost 1.7% to 24,442.94.

WHERE:

AP News - The U.S. conducted strikes against Iran in response to an attack on a U.S. base in Jordan.

AP News - The Kospi index is based in South Korea.

Yahoo Finance - The Treasury bond yield was reported in New York trading.

WHEN:

AP News - The U.S. conducted a “heavy wave” of strikes against Iran early Thursday.

Yahoo Finance - The Federal Reserve kept interest rates on hold on Wednesday.

WHY:

AP News - The rise in oil prices is attributed to renewed tensions between the U.S. and Iran.

Yahoo Finance - The Federal Reserve's decision to hold interest rates was influenced by mixed messages regarding monetary policy and inflation outlook.

HOW:

AP News - The Kospi's decline is seen as a reflection of doubts about massive investments by technology giants in AI capacity.

Yahoo Finance - The Federal Reserve's lack of forward guidance has made it challenging for traders to gauge future interest rate moves.

(UPDATED July 30, 2026 13:36 UTC)

President Trump announced that the U.S. would respond “very hard” following an attack on a U.S. base in Jordan, leading to a heavy wave of strikes against Iran. In the financial markets, oil prices rose due to renewed tensions, with Brent crude climbing to $88.60 per barrel, while the S&P 500 dropped 1.5% to 7,316.15, and the 30-year Treasury bond yield reached a 19-year high of 5.244%. Meanwhile, the South Korean Kospi index fell 1.2% to 5,593.56, reflecting concerns over technology investments, as the Federal Reserve maintained interest rates amid mixed signals about the economy.