Weekly Market Recap | Aug 5 – Aug 11

Key Takeaways

Japan’s stock market experiences a record-breaking $1.1 trillion meltdown.
Indian stocks continue to outperform despite the global market downturn.
Irish Finance Minister Paschal Donohoe has warned that a Trump re-election would pose a “serious issue” for Europe, urging the region to prepare by strengthening its economic autonomy and positioning itself for a potentially “very different agenda” from the US.
US judge rules Google’s search engine dominance an illegal monopoly.

EQV Ventures Acquisition Corp. has announced its initial public offering (IPO) on the NYSE under the ticker symbol EQVU, offering 35,000,000 shares at $10.00 per share, effective August 7, 2024.

The euro surged to $1.10 as investors bet the Federal Reserve (Fed) will cut rates more aggressively than the European Central Bank (ECB), following weak US economic data.
Japan’s stock market experienced a record-breaking $1.1 trillion meltdown, marking a significant and unprecedented downturn. This drastic decline has rewritten the record books, leaving investors and analysts reeling.
Indian stocks continue to outperform, remaining Asia’s top performers despite the global market downturn.
Private equity firms have amassed a record $722 billion dry powder war chest, poised to capitalize on a resurgence in deal-making. Executives are optimistic about the market’s revival, anticipating an expected rate cut.
Russia’s crude oil processing reached 5.43 million barrels per day (b/d) in July, nearing its highest level this year, after planned maintenance ended. This increase in refinery runs is driving down Russia’s crude exports.

A United States judge has made a significant ruling, declaring that Google’s dominance in the search engine market constitutes an illegal monopoly. This decision has major implications for the tech giant and the broader digital landscape.
Apple is set to release its smallest computer ever, the Mac Mini, powered by the new M4 chip, marking the first significant design overhaul since the Steve Jobs era.
Microsoft and Palantir have formed a strategic partnership to jointly offer artificial intelligence solutions to US defense and intelligence agencies, combining their expertise to deliver cutting-edge AI capabilities to support national security efforts.

North Korea has stated its intention to send 250 new missile launchers in the vicinity of the border with South Korea.

The United States has sent stealth F-22 jets to the Middle-East to demonstrate its commitment to Israel’s security. The advanced aircraft could potentially lead a joint US-Israeli response to any threats. The deployment aims to deter escalation by Iran or its proxies and promote stability in the area.

UK Labour leader Starmer convenes an emergency meeting in response to widespread riots across the country. The recent unrest poses the first major challenge to the newly formed Labour government, with Starmer attributing the violence to “far-right thuggery” – the worst disorder seen in years.
Irish Finance Minister Paschal Donohoe warns that a Trump re-election would pose a “serious issue” for Europe, urging the region to prepare by strengthening its economic autonomy and positioning itself for a potentially “very different agenda” from the US.

Russia reports its largest incursion by Ukrainian troops since the invasion began, with 1,000 soldiers entering Russian territory. The Ukrainian forces allegedly reached a critical gas transit point, causing gas prices to surge. The situation marks a significant escalation in the ongoing conflict.

Don’t miss out on next week’s market insights and updates!

👉Keep the conversation going! Subscribe to our weekly newsletter for more insights, delivered straight to your inbox.