Global shares surged and the dollar weakened following reports of a ceasefire agreement between Iran and Israel, brokered by U.S. President Trump. Oil prices plummeted as concerns over supply disruptions eased, boosting risk assets. The yen and euro gained due to their reliance on oil imports, while U.S. Treasury yields rose slightly amid shifting expectations for Federal Reserve rate cuts.
No longer magnificent? How Apple, Microsoft and other Mag 7 stocks are crumbling under AI pressure
The Magnificent Seven are underperforming as investors question whether massive AI spending will generate adequate returns. With $2.3 trillion erased in June, markets are shifting
July 2, 2026