Missile exchanges between the U.S. and Iran intensified this week, slowing shipping through the Strait of Hormuz and stoking fears of oil supply disruptions. Attacks on vessels in the Red Sea by Yemen’s Houthi rebels added to concerns over broader risks to key shipping routes. Brent crude briefly moved above $100 a barrel before settling at $96.78, while WTI closed at $89.31. The conflict has heightened worries about disruptions along major global supply corridors, acting as a bullish catalyst for international oil futures.

ITA Airways said it is canceling all flights to and from Israel through Monday, July 27, citing “operational reasons” amid escalating tensions between Iran and Israel and heightened regional security risks. The Italian national carrier is the first airline to announce such cancellations following the latest Iran-related escalation. The airline has not said whether flights will resume on Tuesday, July 28, or whether the decision is tied to airspace limits, crew planning, or an internal risk assessment.

A stock-market strategy known as the “Trump Trade” has soured, with Ned Davis Research’s Trump Trade Index down about 16% since May. The firm attributed the slide largely to the U.S. conflict with Iran, which it said has lifted energy prices, inflation expectations, interest rates and the U.S. dollar, weighing on manufacturing and housing. The latest uncertainty also includes new tariff moves, including 50% duties on a range of Canadian products and planned targeted actions under Section 338 of the Tariff Act of 1930.

BNB Chain said it will charge zero fees on transactions using USDC, USD1 and U through July 31, 2026. The waiver applies to stablecoin-related activity on BNB Chain and is designed to lower user costs and encourage on-chain activity. The program is a limited-time incentive that runs until July 31, 2026.

S&P Global upgraded Pakistan’s sovereign credit rating from B- to B, its first such move since 2016, citing stronger external buffers and improved fiscal metrics. Foreign exchange reserves rose to $25.3 billion from $6.7 billion in December 2022, while the fiscal deficit narrowed to 4% from nearly 8% in FY2022-23. The agency also pointed to IMF-backed reforms and greater institutional stability, but warned that debt-servicing costs, security risks and regional tensions remain constraints, according to S&P Global.

Arm Holdings reported FY2026 results and fourth-quarter earnings that beat expectations, with revenue and profit coming in above forecasts. IDC’s AI infrastructure data show Arm has surpassed x86 as the largest platform in AI servers. Arm also introduced its first in-house AGI data center CPU, with early orders from customers including Meta and OpenAI, and said it has secured more than $2 billion in committed demand across FY2027–2028. The shift toward a combined hardware-and-software model could also raise competitive tensions with major licensees such as AMZN, MSFT and GOOGL.

Alphabet released its Q2 results after the market close on July 22, 2026, reporting revenue of $119.8 billion, up 24% year over year, above expectations. Cloud revenue grew 82%, far ahead of the 63% growth analysts had forecast. Net profit came under pressure as the company raised its 2026 capital-expenditure guidance by $15 billion to $195 billion–$205 billion. Investors worried that heavier AI spending would weigh on near-term earnings and cash flow, pushing GOOGL shares sharply lower.

DEXE has fallen from a high of $49 to $1.5, a 97% drop, with the main selloff concentrated around July 22. On-chain data show that addresses tagged as Ceffu have transferred nearly 800,000 DEXE to Binance since February, with the largest single transfer occurring around the day of the plunge. DEXE is used as collateral in the Falcon Finance protocol, while Falcon’s assets are held by third-party custodians including Ceffu, which uses a MirrorX mechanism that can create 1:1 tradable mapped positions before the underlying assets move on-chain. The timing mismatch between mapped trading and later settlement coincided with heavy selling, amplifying panic and cascading liquidations.