Global Market Today: Asian shares mixed, oil slumps on hopes of Iran deal

August 3, 2026

Oil prices dropped significantly as peace talks with Iran appeared imminent. Stock markets showed mixed reactions, with US futures rising and Asian markets declining. Japan’s yen surged after the US and Japan confirmed joint intervention to support the currency. This rare bilateral action aimed to halt the yen’s slide to fresh multi-decade lows. The intervention signals a warning to speculative traders against further yen depreciation.

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