Tariff retaliation, Iran rhetoric and technology expansion shape Sunday news

U.S. markets were closed, leaving the QQQ and SPY reference curves unchanged. EU countries weighed tariffs on €93 billion of U.S. goods, while South Korea sought favorable treatment on AI-chip tariffs. Trump's call for new leadership in Iran added geopolitical tension, and xAI's computing buildout and Apple's China shipment gains kept technology growth in focus.

Published Aug 22, 2026

QQQ: 0.00%
SPY: 0.00%
QQQ − SPY: 0.00%

What shaped the session

Tariff retaliation and chip talks

EU countries considered tariffs or market-access limits in response to the Greenland tariff threat, while South Korea sought exemptions and favorable terms for AI chips.

Iran political tension

Trump's call for new leadership in Iran raised the political and security stakes around the country.

Technology capacity and demand

xAI reported a 1 GW computing cluster with a planned expansion, while Apple's iPhone shipments in China rose in the fourth quarter and across 2025.

Key news

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←Jan 17:Greenland tariff escalation spreads to EU trade talks as chip risks build·View all January 2026 QQQ/SPY reviews·Jan 19:IMF growth upgrade, Fed independence and chip constraints frame holiday news→