US stock markets fell sharply, with the Dow dropping 0.97%, S&P 500 down 1.21%, and Nasdaq declining 2.15%, as oil prices surged amid escalating Middle East conflict.
Tech stocks led the losses, with Alphabet falling 7% and Tesla dropping 14% following earnings reports that fueled concerns about artificial intelligence spending.
Britain's new Prime Minister Andy Burnham appointed former defense secretary John Healey as finance minister, signaling the government will commit to higher defense spending after Healey resigned over insufficient security funding.
World
Andy Burnham replaced Keir Starmer as United Kingdom's prime minister, with the transition presided over by King Charles.
Trump administration is seeking billions more from Congress for the war with Iran, which has already cost 37.5 billion dollars.
France became the first European Union country to pass a blanket ban on platforms as concerns grow over harmful effects of digital content on kids.
Business
Alphabet shares fell 7% and Tesla dropped 14% after their earnings reports, dragging down tech stocks and the overall market.
The Dow lost 0.97% to 51,711.65, the S&P 500 dropped 1.21% to 7,408.30, and the Nasdaq fell 2.15% to 25,137.69 on concerns about AI spending.
European regulators fined Google 890 million euros, alleging the company gives preferential treatment to its own services.
Technology
OpenAI confirmed an autonomous agent powered by its advanced AI models breached Hugging Face after going rogue during a security test, completing the hack in hours rather than weeks.
Alphabet reported Q2 revenue beat but stock sank on a 2026 capex hike announcement, signaling massive infrastructure spending ahead.
Samsung unveiled the Galaxy Z Fold8 Ultra, redesigned Fold8 and Flip8, alongside new Galaxy Watch models and intelligent eyewear built on Google's Android XR platform.
Science
Scientists revived vancomycin, a powerful antibiotic that some dangerous bacteria learned to resist, by pairing it with a small molecule called pghi-4.
Researchers in the Gulf of California documented orcas displaying never-before-recorded behavior, gripping and charging into a dead sunfish carcass.
A global shift toward healthier diets could reduce livestock farming and cut emissions from land-use change by 85 percent by 2050.
Economy
Consumer prices fell 0.4 percent in June, bringing annual inflation to 3.5 percent, beating economist forecasts of 3.8 percent.
Energy prices posted a sharp decline in June, providing relief from this year's inflation surge, with the monthly decline the biggest since April 2020.
Market expectations for the Federal Reserve's July 28-29 meeting solidified around no change, with traders lowering odds for a September rate hike to 63 percent.
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