Business & Markets — July 27, 2026

Oil posts largest one-day drop in two months. West Texas Intermediate and Brent crude fell Monday after the U.S. paused attacks on Iran -- the biggest single-day declines in two months. The drop comes ahead of this week's Fed policy decision and Magnificent 7 earnings.

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CXMT rises nearly 470% in Shanghai debut. Hefei-based memory chipmaker CXMT raised $8.6 billion in China's biggest IPO since 2010, and its shares rose nearly 470% on the first day of trading.

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Trump signs forced-labor tariffs on 60 trading partners. President Trump signed a new round of tariffs Friday targeting 60 trading partners, including the EU, China, and the UK, over forced labor allegations, drawing immediate international pushback.

According to CNBC, the framing of this round sets it apart from the administration's previous tariff actions, with the duties resting on forced-labor allegations rather than more conventional trade grievances. The breadth of the measure, which sweeps in allies alongside China, helps explain why objections from abroad came so quickly after the signing. CNBC characterizes the approach as meaningfully different from earlier tariff campaigns under Trump.

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