Good morning. At this time we’re protecting:

• A ‘new section’ within the Center East

• Evan Gershkovich launched from Russia

• Can athletics can win followers exterior the Olympics?

We begin within the US the place Wall Avenue shares declined dramatically and Treasury bonds rallied as weak financial information and a slowdown evident in company earnings spurred fears a couple of decelerating US financial system.

The tech-heavy Nasdaq Composite closed down 2.3 per cent, having slid greater than 3 per cent earlier. Each Magnificent Seven inventory besides Meta ended decrease.

The strikes comply with modest outlooks from chip designers Qualcomm and Arm earlier this week, whilst their earnings principally met consensus expectations.

“The bar has been set so excessive for these corporations that it’s virtually not possible for them to leap over it,” mentioned Steve Sosnick, chief strategist at Interactive Brokers. “In the event you’re good, however your value is spectacular, that’s a disappointment.” Meet up with our markets-wrap.

The most recent from Large Tech:

Right here’s what else I’m conserving tabs on at the moment:

• South Korea inflation: July shopper value index inflation fee information can be launched at the moment.

• Company outcomes: Japan’s Nintendo experiences earnings and Uniqlo proprietor Quick Retailing experiences July gross sales.

• Edinburgh Pageant Fringe: The internationally acclaimed arts pageant that includes theatre, cabaret, comedy and music exhibits, begins within the Scottish capital at the moment.

5 extra high tales

1. Hizbollah chief Hassan Nasrallah mentioned the battle between his militant group and Israel had “entered a brand new section” with the killing of a senior commander in Beirut, including that Israel had breached limits and may count on a “sure” response. Learn extra from Nasrallah’s remarks, given as diplomats held pressing talks to keep away from all-out struggle.

2. Russia has launched Wall Avenue Journal reporter Evan Gershkovich as a part of the biggest prisoner swap of its sort because the chilly struggle. The alternate in Ankara, which concerned 26 prisoners and 7 international locations, was the end result of months of painstaking diplomacy. Right here’s the total story.

3. Nissan and Honda will intention to roll out a brand new electrical automobile earlier than the top of the last decade as the 2 Japanese carmakers outlined a sweeping alliance to compete towards Tesla and Chinese language rivals.

4. The UK Severe Fraud Workplace charged Glencore’s ex-head of oil and 4 different former executives with conspiring to make corrupt funds after a long-running investigation into allegations of bribery by the UK-listed commodity dealer. Be taught concerning the investigation.

5. Shares in Toyota, Panasonic and Japan’s largest banks had been among the many largest victims of an enormous rout of Tokyo shares yesterday, as traders absorbed an surprising rate of interest enhance by the Financial institution of Japan and a renewed surge within the yen. Extra on the affect of the BoJ fee enhance.

How nicely did you retain up with the information this week? Take our quiz.

The Large Learn

Athletics has formally begun on the Paris Olympics. Storied athletes, from Jamaica’s Usain Bolt and Shelly-Ann Fraser-Pryce (pictured), to the US’s Allyson Felix, have given performances which have redefined the boundaries of human achievement through the years. However most individuals pay little consideration to the game when the Video games are over. Examine the tasks attempting to vary that.

We’re additionally studying and watching . . . 

Chart of the day

Commodities from copper to corn have been tumbling as plentiful provides and flagging Chinese language demand immediate fund managers to chop round $41bn of bullish bets on pure assets. In the meantime, considerations about slowing Chinese language demand are already enjoying out in copper, a bellwether of the worldwide financial system. The nation’s web imports of the metallic had been at 13-year lows in June due partly to document exports of 157,000 tonnes.

Take a break from the information

Henry Steiner — the graphic designer behind “model Hong Kong” sits down with the FT’s structure and design critic Edwin Heathcote to speak about residing within the metropolis — and the way it impressed visuals for a few of its high corporations.

Extra contributions from Harvey Nriapia and Irwin Cruz