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President Trump escalated trade rhetoric at the NATO summit in Turkey, calling for a complete severance of trade with Spain over what he described as insufficient defense spending. The statement rattled European markets and raised fresh concerns about alliance cohesion at a moment when NATO partners were already bracing for a difficult summit dynamic.
On that same front, NATO Secretary General Mark Rutte struck a notably defiant tone ahead of the summit, declaring the alliance had entered what he called a NATO three point zero era. Allies appear to be coordinating a unified posture, signaling to Washington that the bloc intends to negotiate from strength rather than concession, even as defense spending commitments remain a central point of tension.
Shifting to capital markets, SK Hynix has filed its Form F-one for a Nasdaq listing in what could become a twenty-eight billion dollar IPO. The Korean memory chipmaker is issuing new shares to broaden its access to American investors, a move that arrives at a particularly charged moment for the semiconductor sector, with AI-driven demand for high-bandwidth memory running at a historic pace.
That's the tape. Markets Desk, signing off the floor.
