U.S. Stocks Swing Amid Geopolitical Tensions
The U.S. stock market experienced extreme volatility last week, with Amazon rising 15% in a single day and Apple plummeting 7.4%. This marked Amazon's largest one-day gain since 2012 and Apple's largest decline since April 2025.
Amazon's surge was fueled by its AWS cloud business reaching the highest revenue growth in 18 quarters, while Apple's decline was attributed to its conservative guidance for the upcoming quarter. The memory chip market also suffered, with the U.S. memory chip index falling 1.58% and recording a weekly decline of 5.30%. SK Hynix dropped 3.54%, while Micron fell 5.90%.
The 10-year U.S. Treasury yield rose approximately 6 basis points last Friday to 4.74%, surging over 30 basis points for July alone, the largest July increase since 2005. The 30-year yield also climbed, reaching 5.271%, the highest level since July 2007.