De Nederlandsche Bank has moved 86 tonnes of gold, worth billions of dollars, from the United States and Canada to London, citing "increasing geopolitical unrest." The months-long operation raised the share of Dutch gold held in London from 18.1 percent to 32.1 percent, while 30.8 percent remains inside the Netherlands. President Olaf Sleijpen said the gold can now be deployed faster in a crisis and called the move necessary to strengthen the bank's "resilience and preparedness." The shift comes as the US-Iran conflict shakes global trade and Washington's tariffs pressure Canada, and it shows how central banks are repositioning reserves as tensions rise.
A global sell-off in government bonds deepened this week as rising oil prices reignited fears that inflation will stay higher for longer. The yield on the 10-year US Treasury, which moves opposite to the bond price and influences mortgage rates, climbed to about 4.8 percent on Wednesday, its highest level since January 2025. Oil jumped after fresh US strikes on Iranian targets raised worries about Gulf supply, with US crude settling above $90 a barrel. The selling spread worldwide: Japan's 10-year yield topped 3 percent for the first time in 30 years, and Australia's 10-year yield hit its highest in more than 15 years. Wall Street fell as higher borrowing costs weighed on stocks, and analysts say a move toward 5 percent on the US 10-year is now possible.
Shein's shares fell on their first day of trading on the Hong Kong stock exchange on Tuesday. The fast-fashion retailer finally listed after a years-long quest to sell shares in New York and London. The debut valued the company well below the levels it reached in private funding rounds, when it was once worth about $100 billion. Shares opened lower and stayed down through the session as investors weighed slowing growth and trade pressure. The listing is still one of the largest retail IPOs in Asia this year and gives Shein access to fresh capital as it competes with rivals such as Temu. Executives said the company will use the funds to expand its supply chain and push into new markets.
The US federal debt has passed $40 trillion for the first time, according to the Treasury Department. The total reached $40.05 trillion, roughly double the level of a decade ago. Treasury also reported a $432.3 billion deficit in July, the highest monthly shortfall since March 2021. Interest on the debt now costs more than $1 trillion a year, making it the government's second-largest expense. With a population of about 343 million, the debt equals roughly $117,000 per American. Watchdogs project the country will hit its $41.1 trillion debt limit sometime between late winter and mid-summer 2027, forcing another congressional fight over borrowing.
The Trump administration is imposing a minimum import price for polysilicon, a raw material used in semiconductors and solar panels, along with new tariffs on products made with it. Officials say the measures aim to protect American manufacturers from cheap imports, but industry analysts warn they could raise costs across electronics and clean energy supply chains. Polysilicon prices have been volatile for years, and the move adds fresh uncertainty for chipmakers, solar developers, and the data center boom driving demand for advanced electronics. Domestic producers welcome the protection, while electronics and solar companies warn the policy will push up input costs. The first duties are expected to take effect within months, and companies are already reviewing supply contracts.
President Donald Trump says he will raise tariffs on Canadian-made cars, trucks, auto parts and steel to 50 percent starting January 1, 2027, escalating a trade fight that erupted after talks between the two countries collapsed. A fresh round of 50 percent tariffs on some Canadian goods took effect on Saturday, and Canada has promised to match them dollar for dollar. Prime Minister Mark Carney said Canada will retaliate to protect its workers and businesses. The new 50 percent levy would double the current 25 percent tariff on autos and would also cover steel. Automakers that build vehicles in Canada and sell them in the United States could face sharply higher costs. Trump said on social media that companies can avoid the tariffs by building in the United States.
President Trump has paused new tariffs on Canada for three days, saying the two sides are close to a deal. The pause comes after the United States threatened to raise tariffs on Canadian cars, trucks, auto parts, and steel to 50 percent starting January 1. Earlier talks collapsed when the two countries failed to reach a trade agreement. Trump said both sides are now finalizing documents to avert import taxes on a range of Canadian goods. Canada was the only country besides China to retaliate against the earlier U.S. tariffs. Markets reacted positively to the news, while economists warned that a full trade war would still hurt automakers and consumers on both sides of the border. The three-day window will test whether the two neighbors can avoid a full-blown trade war.
Unitree Robotics, the world's largest maker of humanoid robots, saw its shares soar more than 600% when it started trading on Shanghai's Star Market. The debut reflects strong investor appetite for robotics and artificial intelligence in China. The company plans to use the funds to expand production of humanoid robots for factories, warehouses and homes.
Nvidia reported a 106 percent jump in sales, beating Wall Street expectations as demand for its AI chips stays red-hot. The company's results, released Wednesday, reinforce its position as the biggest winner of the artificial intelligence boom. Analysts closely watch Nvidia as a bellwether for AI and the wider stock market. The company's data center business drove most of the growth, with cloud providers and tech giants buying chips in record numbers. Nvidia also said supply of its newest processors is sold out for the coming quarters. The strong report lifted tech stocks in after-hours trading and eased worries that the AI spending wave is slowing.
The US federal debt has crossed $40 trillion, according to the Treasury Department, as spending on the Iran war, tax cuts and tariff refunds outpaced revenue. President Trump promised to reduce the debt burden, but the borrowing has continued. Interest payments now eat a growing share of the federal budget. The milestone arrived as the trade fight with Canada escalated, with Ottawa announcing retaliatory tariffs of up to 50 percent on US goods. Treasury Secretary Scott Bessent said he expects inflation to retreat as the Iran conflict subsides. Economists are split on whether the debt level poses a near-term danger.