Shafaqna English– Asian stocks tumbled on Wednesday(29 Jul 2026), extending their steep decline. This selloff unfolded as investors, already anxious about AI valuations and whether massive spending in the sector will ultimately prove profitable, remained on edge ahead of big tech earnings reports and the Federal Reserve’s policy announcement. Oil prices spiked sharply following new attacks in the Middle East, which erased the relative calm observed in the U.S.-Iran war over recent days. Investors are now increasingly worried about the depletion of oil reserves and the subsequent impact on prices and global interest rates. www.shafaqna.com