- As investors evaluated whether an impending economic downturn offers little room for reprieve in global markets following a first-half beating, stocks struggled to advance while bonds added to gains.
- An Asian share index fell for a third day, with Japan leading the decline. Taiwan's stock market continued to decline and was on pace to have a bear market. After the worst first half for Wall Street since 1970, US futures fell.
- The markets in Hong Kong are closed in observance of a holiday commemorating 25 years of Chinese rule. Later on Friday, China’s President Xi is scheduled to deliver a speech.
- Following a recent rise that brought the CSI 300 index to the verge of a bull market, Chinese equities are one of the few shining lights in the world's financial markets. Even though Chinese bourses opened with slight losses, the recovery has been aided by easing Covid controls and better economic indicators.
- In the wake of weaker than anticipated consumer spending and inflation in the US, the 10-yr treasury note extended an advance, supporting the theory that abrupt increases in the Fed's interest rates will cause a recession. Australian and New Zealand government debt also increased.
- The value of the dollar increased little. Crude traded at about $106 per barrel. At one point, Bitcoin increased by as much as 11% and reclaimed the $20,000 mark.
