Apple shares fell 7.4% over two trading sessions, erasing $426 billion in market value. The selloff came despite fiscal Q3 2026 revenue rising 16.4% year over year and iPhone sales climbing 21.7%. iPhone revenue for the nine months ended June 27, 2026, increased 22.4%, and product sales growth outpaced services for the first time since fiscal 2021. Investors remain focused on valuation concerns and doubts about how sustainable the company’s growth can be.

Visa said it plans to cut about 2,600 jobs, or roughly 7% of its global workforce, with most reductions in technology and product teams. The company said the move is aimed at improving operational efficiency as it navigates challenges in the payments industry. It also pointed to AI as a tool to streamline processes, while saying it is not the primary driver of the layoffs. The announcement comes ahead of Visa’s second-quarter earnings release, sharpening investor focus on growth momentum and profit durability.

The Indian government has instructed that sales of 2025–26 buffer stocks of tur (pigeon pea) and chana (chickpea) be paused as El Nino-related risks raise the prospect of supply shortages. Total government pulse inventories are about 4.5 million tonnes, including 1.1 million tonnes of tur and 2.3 million tonnes of chana. Kharif pulse sowing is running 7.5% below last year, with tur acreage down nearly 12%. The policy is supporting domestic spot and futures markets, underpinning prices for tur dal and chana.

Investors have grown uneasy after Alphabet ramped up AI spending, with the stock falling 9% over the past five trading sessions and slipping below its 200-day moving average. Evercore ISI and Barclays warned that enthusiasm for AI capital spending is starting to cool and that heavy concentration in the S&P 500 is adding risk. Microsoft, Meta and Amazon are expected to post sharp increases in AI-related capital spending for the second quarter, keeping scrutiny on big-tech earnings durability and broader index stability.

Monolithisch India Limited (NSE: MONOLITH) reported Q1 FY27 revenue of ₹47.18 crore, up 64% year on year, with EBITDA of ₹13.11 crore and net profit of ₹10.07 crore. The company said its premium SGB series generated nearly half of quarterly revenue. It also confirmed the greenfield plant will begin dry runs and technical trials in mid-September 2026, and guided Q2 revenue at ₹55–60 crore.

Sugar mills in India’s Maharashtra have rapidly shifted into ethanol, with production capacity rising from 26 lakh litres in 2021–22 to 244 crore litres in 2022–23 and output reaching 104.83 crore litres in the 2024–25 Ethanol Supply Year. The industry has invested more than ₹35,000 crore in ethanol facilities and is seeking higher procurement prices to match an increase in sugarcane Fair and Remunerative Price (FRP). The shift has improved mills’ financial resilience, but it also diverts cane and molasses into fuel, creating a structural constraint on raw sugar supply.

The United States carried out military strikes on Iran for a sixth consecutive night, focusing on facilities at Chabahar port, targets around the Bushehr nuclear power plant, and six bridges near the Strait of Hormuz. Iran said it destroyed two US radar sites in Oman and launched missiles toward Kuwait and other countries, while the fighting has killed 38 people and wounded 400 in Iran. The escalation has heightened regional risk, raising concerns over shipping through the Strait of Hormuz and the stability of energy infrastructure.

Semiconductor shares fell broadly, with Nvidia, AMD, Micron and SK Hynix weakening across U.S. and South Korean markets. About $11 billion flowed out of U.S. semiconductor funds in the week ended June 24, the largest weekly outflow this century, according to LSEG Lipper data. Even as expectations for AI infrastructure spending remain strong and several firms have raised price targets, many chip stocks are trading near analysts’ 12-month targets, raising concerns that valuations already reflect much of the growth. SK Hynix reversed after a sharp jump in its U.S. trading debut, weighing on the memory-chip segment.

Maharashtra’s off-budget guaranteed liabilities totalled ₹1.81 lakh crore as of March 31, 2026, accounting for 16.4% of its estimated debt stock. The Comptroller and Auditor General criticised reliance on borrowings outside the budget, saying it understates the state’s true debt and fiscal deficit and reduces transparency. Two cooperative sugar factories controlled by politicians received government-backed loans totalling ₹139.88 crore. The state’s debt-to-GSDP ratio has moved beyond the FRBM ceiling of 25%, raising concerns over fiscal sustainability.