Thursday, July 30, 2026

Dow plunges 1,100 points as AI stocks get crushed. Oil spikes on U.S. strikes against Iranian targets. PCE inflation gauge falls for the first time since the pandemic. The U.S. hitting Iranian targets after foiling an attack on its bases is the real story. Oil is jumping and this isn't priced in yet. Watch energy names and defense. Amazon reports Q2 today. The issue is that $200 billion AI capex number. If they signal any pullback, the whole AI trade takes another leg down. MSFT prediction markets are already jittery. NVIDIA is everywhere—new shipbuilding deal with Kawasaki, a fresh catalyst for Amkor, and supplier Advantest just jumped 12% on AI demand. The capex is still flowing, but the market is now questioning the payoff. TSMC breaks into Fortune Global 500 top 100 for the first time and is working on new advanced packaging similar to Intel. The physical backbone of AI is getting stronger even as software names sell off.

Dow plunges 1,100 points as AI stocks get crushed. Oil spikes on U.S. strikes against Iranian targets. PCE inflation gauge falls for the first time since the pandemic.