Global Economy Briefing — July 8, 2026
Wall Street slipped as Samsung's disappointing earnings and reports that China's DeepSeek is developing its own AI chip triggered a semiconductor sell‑off. Oil prices jumped after tanker attacks near the Strait of Hormuz and the U.S. moved to revoke Iran's oil‑sale licence, raising inflation concerns. The odds of a Federal Reserve rate hike in September rose to about 58%, influencing the Brazilian real and the Selic policy outlook.
- ▪The Nasdaq fell 1.16% to 25,818.69 following Samsung's results and news of DeepSeek's AI chip development.
- ▪Brent crude rose more than 5% above $76 and WTI topped $72 after Hormuz‑related attacks and the U.S. revoking Iran's oil licence.
- ▪Fed rate‑hike odds increased to roughly 58% for September, the single biggest variable affecting Brazil's real and Selic path.
- ▪The U.S. 10‑year Treasury yield climbed to about 4.50%, a two‑week high driven by the oil rally.
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Global Economy Briefing Wednesday, July 8, 2026 Global Economy Daily Briefing July 8, 2026 Global Economy Briefing — July 8, 2026 Wall Street slips as Samsung and DeepSeek trigger a chip sell-off and oil spikes on Strait of Hormuz attacks. Fed hike odds climb; the real holds firm. What By Diego Fernández · July 8, 2026 · 6 min read Daily Brief The morning intel from across Latin America. Free. Subscribe By subscribing you agree to our privacy policy. We never share your email. Rio Times Global Economy Briefing The Big Three A chip rout snapped the record run The Nasdaq fell 1.16% to 25,818.69 as Samsung’s results disappointed and reports emerged that China’s DeepSeek is building its own AI chip, reviving fears the semiconductor trade has run too hot too fast.
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