On July 29, the United States and Saudi Arabia launched coordinated strikes against Iranian-backed militias, further escalating tensions in the Middle East. This action follows a day after the U.S. president held his first meeting with Israel’s prime minister since the commencement of the campaign against Iran. With midterm elections approaching, Donald Trump is seeking to adopt a more assertive posture in the region. According to FRANCE 24’s Angela Diffley, these developments underscore the growing complexity of U.S. involvement.
Also Read
- Legacy Over Luxury: Why This 83-Year-Old CEO Rejected a $400 Million Exit]
- Strategy Pauses Bitcoin Purchases for 5 Weeks as Its Chief Investor Reconsiders Cash Allocation
- Market Turmoil Precedes Fed Rate Decision Amid Middle East Tensions and Tech Earnings US markets declined Wednesday amid Iran’s surprise attacks on the U.S., investor anticipation of the Federal Reserve’s interest rate decision, and mixed earnings reports from major technology firms. The S&P 500 index declined 0.8% as the technology-heavy Nasdaq Composite fell 1.1%. The Dow Jones Industrial Average dropped 1.5%, losing over 800 points, reflecting heightened oil prices following renewed Middle East hostilities. SK Hynix reported a 557% year-over-year profit increase in its second quarter, though results fell short of Wall Street forecasts, raising concerns about the artificial intelligence sector’s growth trajectory. Asian investors offloaded chip stocks including Samsung and SK Hynix, pushing South Korea’s KOSPI Composite down nearly 6%. Key “Magnificent Seven” technology companies Microsoft and Meta delivered post-market earnings updates, with Alphabet’s recent capital expenditure guidance intensifying scrutiny of AI investment sustainability. Iran’s military launched an attempted surprise attack Monday, re-igniting direct U.S.-Iran conflict for the first time since a Friday ceasefire. Oil prices surged 7%, with Brent crude exceeding $90 per barrel as tensions escalated. The Federal Reserve faces critical scrutiny ahead of its 2 p.m. ET policy decision. Traders anticipate rate stability despite persistent inflationary pressures, with Fed Governor Kevin Warsh’s communication restrictions leaving rate hike possibilities open. Beyond technology earnings, consumer-focused firms including Starbucks, Chipotle, Qualcomm, and Arm Holdings will report quarterly results after markets close. Procter & Gamble shares declined Wednesday following below-expectation revenue disclosures.
- Firefighter Records Wildfire in Gironde Using Smart Glasses

