US says conducting new wave of strikes on Iran as ceasefire falters
Second night of strikes comes after Trump says ceasefire 'over', suggests talks for lasting peace will continue.
Al Jazeera
Daily Brief
EN → 한국어
Thursday, July 9, 2026
Today's Brief
Today’s Key Insight
The collapse of the US-Iran ceasefire has thrust global markets back into full-conflict conditions, triggering a sharp surge in oil prices and prompting the IMF to downgrade its 2026 global growth forecast. Concurrently, warnings from analysts regarding an overextended AI semiconductor rally suggest that the tech-driven earnings momentum may be losing steam. This dual shock of geopolitical escalation and peaking tech exuberance appears to be driving a broad risk-off sentiment across major indices in the latest trading sessions.
Market Overview
Korea. South Korean equities suffered a severe sell-off in the prior session, with the KOSPI and KOSDAQ plunging over 5%, largely driven by retail panic as major semiconductor stocks faced steep declines. Despite the IMF upgrading South Korea’s 2026 growth forecast to 2.6% on the back of strong first-quarter AI hardware exports, growing skepticism over the sustainability of the AI earnings boom appears to be heavily weighing on local tech valuations.
US. In the latest available US session, the Dow and S&P 500 retreated as renewed US strikes on Iran and a nearly 6% spike in WTI crude oil prices stoked inflation and geopolitical fears. However, the Nasdaq managed a marginal gain of 0.20%, suggesting that while broader market volatility is rising, pockets of resilience remain in specific tech segments despite the overarching risk-off environment.
Cross-Market Signals
- Oil-Yield Nexus: The nearly 6% surge in WTI crude, driven by the Strait of Hormuz conflict, likely contributed to the upward pressure on the US 10-year Treasury yield as markets price in renewed inflationary risks.
- Geopolitical Risk Premium: The breakdown of the US-Iran ceasefire directly correlates with the rise in the VIX and the broad sell-off in traditional risk assets, including the Dow and major cryptocurrencies.
- Tech Sector Divergence: While the US Nasdaq managed a slight gain, South Korean indices plummeted over 5% amid warnings of an overextended semiconductor rally, highlighting a potential decoupling in global tech sentiment.
Markets as of 2026-07-08 close ⚪ Neutral
VIX +4.8% ↑ · USD/KRW -1.5% (달러 약세)
S&P Sectors
Tech +1.2%
Finance -1.9%
Health -1.3%
Energy +1.8%
Industrial -1.1%
Staples -0.6%
Utilities -0.7%
Real Estate -1.6%
Materials -2.6%
Comms -1.4%
Discretionary -1.8%
World
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The Strait of Hormuz is back under ‘full-conflict conditions’ — and energy markets are scrambling
Oil prices surge as U.S. and Iran trade strikes; but even without further disruption, volatility appears here to stay for energy markets
MarketWatch
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Dow slides more than 570 points as oil spikes and Trump threatens another attack on Iran: Live updates
U.S. President Donald Trump told the NATO summit in Turkey that the ceasefire with Iran is "over."
CNBC
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IMF lowers 2026 global growth forecast to 3% but projects rebound in 2027
The IMF has cut its global growth forecast for the second time this year, flagging "uncertainty and risks" brought on by the war in Iran. Spanish Prime Minister Pedro Sanchez responds to threats from Donald Trump that the US will cut off all trade with his country. And, the heatwave is putting France's power system is under pressure.
France 24
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What the Iran war has revealed about Brics+
The US-Israeli military campaign against Iran was more than another Middle Eastern conflict. It became a defining stress test for the expanded Brics (Brics+), the grouping that is frequently portrayed as the flagship political platform of the Global South and a cornerstone of an emerging multipolar order. The war showed that the grouping – which has grown beyond its founding members Brazil, Russia, India, China and South Africa – is neither a military alliance nor an ideological bloc. Rather, it...
SCMP
Korea
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Current Account Surplus Reaches All-Time High… Will This Year's Growth Rate Hit 3%?
As an unprecedented semiconductor export boom continues, Korea's current account surplus in May reached an all-time high. With export growth steeper than expected, there are growing expectations that this year's economic growth rate could reach 3%. ◇Also highest in June...
한국경제
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Koreans Spend Hundreds of Billions on ChatGPT and Claude… Overseas AI Platforms Rake in Cash
As paid generative AI services become deeply embedded in daily life and work, the subscription fees paid by domestic users to overseas platforms are expected to reach hundreds of billions of won annually. Following Netflix, an online video streaming service (OTT) that surpassed 1 trillion won in domestic sales last year, the deepening monopoly of overseas platforms in the AI market is raising concerns about national wealth outflow as a new challenge. According to annual AI platform payment data compiled by Hyundai Card on the 9th, the payment volume for using paid ChatGPT and Claude services in Korea has sharply increased year by year. In 2023, when generative AI began to spread, payment transactions were 138,000, and the payment amount was only 4 billion won. However, in 2024, these increased more than fourfold to 609,000 transactions and 19.1 billion won, and last year, they surged to 1.614 million transactions and 64 billion won, 12 to 16 times the 2023 level. In the first half of this year (January-June), payment transactions totaled 1.184 million, and the payment amount was 57.2 billion won, reaching 90% of last year's annual payment amount in just half a year.
동아일보
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IMF Significantly Raises Korea's Growth Forecast to 2.6% This Year... 'Strong Semiconductor Exports'
Driven by strong exports of semiconductors and AI hardware, the first-quarter growth rate this year recorded an annualized 7.5%, significantly exceeding initial expectations. Among the 30 major countries announced by the IMF, Korea's upward revision in this year's growth rate is the highest...
YTN
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Goldman Sachs: 'AI-Driven Earnings Party Nearing End… Semiconductor Concentration Was Excessive'
(SEOUL=Yonhap News) Reporter Jung Joo-ho: The streak of AI-driven earnings surprises that led the last earnings season is not expected to be replicated in the second quarter (April-June) earnings announcements...
연합뉴스
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Were They Human Peak Detectors? Ralral and Mija Shocked by SK Hynix's Plunge to 1 Million Won Range: 'Is This For Real?' [Hot People]
[OSEN=Reporter Kang Seo-jung] Creator Ralral and comedian Mija despaired over the plunge of SK Hynix. On the 8th, Ralral posted a photo saying, 'There are people on the 28th floor,' with the caption, 'Special prayer meeting for residents of Hynix 280th floor. If it just returns to my original price, I won't be greedy.' Ralral appears to have purchased SK Hynix at 2.8 million won. However, SK Hynix recently continued its consecutive decline, plunging to the 1 million won range.
조선일보