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A selloff in semiconductor stocks deepened Tuesday as concern grows over the sustainability of the artificial intelligence spending boom. A report that a Chinese state-backed company has begun mass producing immersion deep ultraviolet lithography machines fueled fears of rising competition that could flood worldwide capacity. Bloomberg's Neil Campling reports.

Mercedes-Benz Group reported resilient carmaking profits that beat expectations even as deliveries fell due to a slump in China. The company kept its 2026 carmaking margin outlook at 3% to 5%, but it cut its forecasts for revenue and vehicle deliveries to slightly below last year's levels. Bloomberg's Elisabeth Behrmann reports.

Organic sales at LVMH's key fashion and leather goods unit, home to Louis Vuitton and Dior, rose 1%, missing the 1.52% estimate of analysts surveyed by Bloomberg. The luxury industry has been affected by the conflict in the Middle East and a slump in Chinese shoppers' purchases, with LVMH saying the conflict deterred wealthy shoppers. Bloomberg's Angelina Rascouet reports.

Barclays Plc Chief Executive Officer CS Venkatakrishnan says he is "absolutely pleased" with the earnings published today. "Our capital efficiency is much higher than we thought it would have been at this time," he adds. Venkatakrishnan speaks on Bloomberg Television after the bank reported its equities traders delivered their best second-quarter haul in four years, generating £1.26 billion. The UK lender also announced a fresh £1 billion buyback.

ADNOC's fertilizer subsidiary Fertiglobe reported revenue of $1.09 Billion for the second quarter that beat the average analyst estimate despite the blockade in the Strait of Hormuz. Ahmed El Hoshy, CEO of Fertiglobe spoke to Bloomberg's Abeer Abu Omar on Horizons Middle East & Africa on the numbers and the potential risk from the Red Sea.

Oil extended its decline after President Donald Trump said the US and Iran were engaged in talks to try to end the Middle East conflict once again. Jorge Leon, Geopolitical Analysis Head at Rystad Energy spoke to Bloomberg's Abeer Abu Omar on Horizons Middle East & Africa about the best & worst-case scenario for oil moving forward.

Global chip stocks tumbled as investors questioned the longevity of the AI boom over concerns of debt and demand. Markets are also awaiting the Fed decision, but Citadel expects Kevin Warsh to deliver a surprise hike. Mehvish Ayub, Bank of Singapore's Head of Managed Solutions Advisory Dubai spoke to Bloomberg's Abeer Abu Omar on Horizons Middle East & Africa on the Fed decision and tech stocks movement.

Here's a look at how the Asia tech selloff unfolded following investor jitters over circular deals by Nvidia and other firms, as well as a report of a Chinese state-backed company mass producing key chipmaking machines.

Bloomberg Intelligence expects stronger copper and aluminum prices to support earnings for Australia's biggest miners, while resilient iron ore markets continue to underpin the sector. Mining & Commodities Analyst Grant Sporre and Bloomberg News reporter Paul-Alain Hunt discuss the outlook for the industry on "Bloomberg: The Asia Trade."

The Little Tech Association, which represents nearly 200 startups, discusses the importance of access to open-weight models. Executive Director Harry Godfrey speaks on "Bloomberg: The China Show" after Silicon Valley leaders, including Anthropic and Nvidia, echoed the group's open letter warning against a broad government crackdown in response to a breakthrough Chinese AI model that has challenged US leadership in the technology.