Overnight US stocks | Crude oil breaks through the $100 mark as three major indices plummet. Alphabet Inc. Class C (GOOG.US) drops 7% after earnings.

On Thursday, the three major indices plunged and the Brent crude oil price broke the $100 per barrel mark. US bond yields rose with oil prices, with the 10-year bond yield reaching its highest level since January 2025. In a post on his social media platform, Trump wrote, "From now on, whenever the Islamic Republic of Iran fires at ships in the Strait of Hormuz, be it through missiles, rockets, drones, or any other device or weapon, the United States will bomb and destroy a bridge or power plant, including such facilities located in or near the capital Tehran." [US Stock Market] At the close, the Dow fell 507.59 points, or 0.97%, to 51710.99 points; the Nasdaq fell 553.21 points, or 2.15%, to 25137.69 points; and the S&P 500 index fell 90.78 points, or 1.21%, to 7408.18 points. Micron Technology, Inc. (MU.US) rose 3%, SK Hynix (SKHY.US) rose 2.5%, Alphabet Inc. Class C (GOOG.US) fell 7%, Tesla, Inc. (TSLA.US) fell 14.5%, and SpaceX (SPCX.US) rose over 2%. The Nasdaq Golden Dragon Index fell 0.57%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) fell 2%. [European Stock Market] The German DAX30 index fell 419.90 points, or 1.67%, to 24754.20 points; the UK FTSE 100 index fell 77.81 points, or 0.73%, to 10639.16 points; the French CAC40 index fell 138.80 points, or 1.64%, to 8299.09 points; The Euro Stoxx 50 index fell 107.64 points, or 1.70%, to 6209.35 points; the Spanish IBEX35 index fell 326.19 points, or 1.67%, to 19245.11 points; and the Italian FTSE MIB index fell 1470.04 points, or 2.78%, to 51322.00 points. [Asian Stock Market] The Nikkei 225 index rose 0.46%, and the Korean Composite Stock Price Index rose 4.4%. [US Dollar Index] The US dollar index, which measures the dollar against six major currencies, rose 0.32% to close at 101.445 in the foreign exchange market. At the close of the New York foreign exchange market, 1 euro exchanged for $1.1377, down from $1.1411 the previous trading day; 1 pound exchanged for $1.3318, down from $1.3373 the previous trading day. 1 dollar exchanged for 163.80 yen, up from 163.13 yen the previous trading day; 1 dollar exchanged for 0.8169 Swiss francs, up from 0.8146 Swiss francs the previous trading day; 1 dollar exchanged for 1.4076 Canadian dollars, down from 1.4085 Canadian dollars the previous trading day; 1 dollar exchanged for 9.7663 Swedish kronor, up from 9.7014 Swedish kronor the previous trading day. [Cryptocurrency] Bitcoin fell by over 1% to $65179.73, and Ethereum fell by over 2.8% to $1882.72. [Crude Oil] International oil prices rose sharply on the 23rd. At the close of the day, the price of light crude oil futures for September delivery on the New York Mercantile Exchange rose $5.36 to $92.19 per barrel, a 6.17% increase; The price of Brent crude oil futures for September delivery rose $6.62 to above $100 for the first time since May and closed at $100.69 per barrel, a 7.04% increase. [Precious Metals] Spot gold was priced at $4049.21, and spot silver was priced at $57.647. [Macroeconomic News] The US is imposing tariffs of 10%-12.5% on 60 economies. The Office of the United States Trade Representative (USTR) announced on the 23rd local time that dozens of countries and regions would be subject to a 10% to 12.5% tariff on the grounds of "forced labor" under Section 301 of the 1974 Trade Act, replacing the expiring global import tariffs. The new tariffs will take effect on July 24 (noon Beijing time). The USTR stated that at the expiry of the 10% global tariff, tariffs on 60 economies would cover over 99% of US trade. US officials stated that tariffs on goods in transit would take effect at 12:01 a.m. on July 28 Eastern Time (12:01 p.m. Beijing time on July 28). Imports such as fuel, food, and fertilizers will be exempt from new tariffs; products subject to specific industry-specific tariffs (such as cars, metals, and drugs) will also not be subject to the new tariffs. In addition, goods covered by the US-Mexico-Canada Agreement (USMCA) will also be exempt. US officials stated that the new tariffs would not stack with existing steel and aluminum import taxes (the "Article 232" tariffs imposed by Trump last year on national security grounds). The European Central Bank is considering raising reserve requirements to ease pressure from massive losses. The European Central Bank is considering various measures to ease its financial losses, with discussions expected to enter a critical phase in the autumn. ECB President Lagarde stated that policymakers would discuss raising minimum reserve requirements, increasing the proportion of funds that commercial banks hold in interest-free accounts at the central bank. In addition, the ECB is evaluating options such as discontinuing the "tiered rate mechanism" for certain excess reserves that pay interest and charging fees to banks. These measures aim to alleviate the burden on national central banks and offset some of the losses from the past decade of stimulus policies. Due to the ECB's large-scale bond purchases from 2015 to 2022 and the rapid rate hikes from 2022 to 2023, banks have paid a significant amount of interest, putting pressure on the euro system. Sources say there are still significant differences in the discussions surrounding this politically sensitive issue. [Individual Stock News] Morgan Stanley: increased Apple Inc. (AAPL.US) price target from $360 per share to $364 per share; lowered Alphabet (GOOG.US) price target from $415 per share to $400 per share.