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Stocks slip in cautious trading after weak US retail sales data; Middle East tensions weigh on markets; AI sector shows
🇸🇬 Singapore /Elections & Politics

Stocks slip in cautious trading after weak US retail sales data; Middle East tensions weigh on markets; AI sector shows mixed performance; Seoul stocks recover on chipmaker gains; SanDisk surges on AI prospects; Applied Materials slides despite record sales; US consumer sentiment drops; Oil prices rise amid Strait of Hormuz concerns; Markets retreat in sparse summer trading; Wall Street slips after record high; European indexes end lower after mixed Asian showing; US retail sales down 0.6% in July; Consumer confidence drops 8% in August; Fed unlikely to hike borrowing costs soon; Investors wary of economic slowdown; Geopolitical worries dominate attention; Technology sector, AI rollouts remain front and center; SK Hynix, Samsung shares recover; Kospi index gains over 2% Friday; Iran insists on control of Strait of Hormuz; US launches strikes against Iran; Carney calls August byelections for 3 ridings, control of house at stake; Global News (CA) article text: A Conservative candidate running in a federal byelection in B.C. acknowledged this week he’s heard criticisms about party leader Pierre Poilievre from voters as he campaigns, while seeking to separate himself from the rest of the Conservative caucus. The comments came during an all-candidates panel for the Aug. 31 byelection in the riding of North Vancouver, Capilano, held Thursday at the Amica Lions Gate senior’s residence in West Vancouver.The event was not open to the media, but Global News obtained video of the exchange between an audience member and Conservative candidate Stephen Curran from a source involved with the campaign of Liberal candidate Braeden Caley, who was also at the event along with Green Party candidate Shelley Luce.In the video, the audience member called Poilievre “divisive in the extreme” and asked Curran about the perception that the Conservatives were unwilling to collaborate with the Liberal government and other opposition parties. Story continues below advertisement “I’ll confess, it’s not a question that I haven’t heard on the doorsteps as well,” Curran replied.Although he pushed back on the suggestion that Poilievre and Conservatives aren’t collaborative, noting the party supported passing the government’s landmark infrastructure and trade law, Bill C-5, and successfully pushed the Liberals to cancel the consumer carbon tax, he acknowledged that “the one criticism I get a lot too is, well, your leader and your party are always criticizing. You’re never offering any solutions.” Get breaking National news Get breaking Canada news delivered to your inbox as it happens so you won't miss a trending story. He noted the role of the official Opposition is to criticize and “offer direction to the government of the day,” but added his priority as a member of Parliament would be “to do so respectfully and constructively.”“The last thing I’ll mention to you is that Mr. Poilievre and the rest of the Conservative caucus are not on the ballot,” Curran said.“It’s up to you to look at me and look at my face and see if you think I’m telling the truth, and whether I am actually going to be a constructive agent representing your interests in Parliament or not. And I hope that you believe that I will, because I’m going to be working very hard for you.”The audience member responded to Curran, “I think you will, but I think Mr. Poilievre won’t let you.” Story continues below advertisement “I’m a big boy,” Curran replied with a smile.Curran is set to attend a campaign rally with Poilievre in North Vancouver on Saturday. 2:07 Carney calls August byelections for 3 ridings, control of house at stake Poilievre has been struggling to rebuild momentum for the Conservatives after the Liberals’ come-from-behind general election victory last year under Prime Minister Mark Carney.Although polling from Angus Reid Institute suggests public support for Carney and the Liberals has been falling since February, allowing Conservatives to partially close t

From CNA · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • Stock markets retreated on Friday amid cautious trading, influenced by weak US retail sales data and ongoing Middle East conflict.
  • US retail sales fell 0.6% in July, and consumer sentiment dropped, raising concerns about the US economy's resilience.
  • Investors monitored oil prices and Middle East developments, while the technology sector, particularly AI, remained a focus despite mixed company performances.

Global stock markets experienced a downturn on Friday, August 14, 2026, as investors adopted a cautious stance ahead of the weekend. Sparse summer trading volumes amplified concerns stemming from a weakening US economy and persistent geopolitical tensions in the Middle East.

Although the early-month weakening in sentiment was pervasive across various demographic groups, notably large reductions were seen among older consumers, lower-income consumers, and those without a college degree.

— Joanne HsuConsumer survey director at the University of Michigan, explaining the decline in consumer confidence.

Wall Street saw stocks slip into negative territory after hitting a new record high the previous day. This pullback followed the release of weaker-than-expected US retail sales data, which showed a 0.6% decrease in July. Additionally, a University of Michigan consumer sentiment survey indicated an eight percent drop in August, reversing two months of gains. These figures have fueled questions about the sustainability of the world's largest economy.

These groups are all particularly vulnerable to any erosion of purchasing power stemming from inflation.

— Joanne HsuExplaining the impact of inflation on vulnerable consumer groups.

"Investors should be careful what they wish for," warned Bret Kenwell, investment analyst at eToro, noting that consumer resilience is crucial for economic stability. He pointed out that despite easing petrol prices in July, this relief did not translate into increased spending in other sectors. The ongoing conflict between the US and Iran, which has largely shut down the Strait of Hormuz to tanker traffic, further fueled worries about economic growth and stubborn inflation.

For the economy to stay resilient, consumers will need to do the same.

— Bret KenwellInvestment analyst at eToro, commenting on the link between consumer spending and economic resilience.

Amidst these broader concerns, the technology sector, particularly investments in artificial intelligence, remained a key area of interest. However, performance was mixed. Applied Materials, a US chip manufacturing equipment supplier, saw its shares decline over five percent despite reporting record quarterly sales. Conversely, SanDisk's stock surged 7.4 percent following an investor presentation highlighting its prospects in the AI market. In Asia, Seoul's Kospi index gained over two percent, driven by a recovery in shares of chipmakers SK Hynix and Samsung.

that relief did not translate into stronger spending elsewhere.

— Bret KenwellNoting that falling petrol prices did not boost overall consumer spending.
DistantNews Editorial

Originally published by CNA in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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