Europe’s surge in energy prices after the Iran conflict disrupted supply has revived inflation worries. Data show European gas storage is only about 63%, leaving policymakers and bond investors more focused on rising natural gas prices than higher crude futures. A sharp jump in gas prices could add to inflation and push the European Central Bank toward more rate hikes than markets expect, after its first increase in June and with another move anticipated in September.

Michael Burry’s fund has fully exited its Alibaba stake as the company moved to raise about $10.2 billion through a discounted share placement to fund AI and cloud infrastructure. The financing announcement sent Alibaba shares down 8.5% in a single session. The stock is down about 18% so far in 2026, and the company trades at roughly 27.2 times trailing earnings.

U.S. inflation as measured by the personal consumption expenditures price index rose to 3.7% year on year in July, up from 3.6% a month earlier, while core PCE held at 3.3%. After the release, market pricing for a September Federal Reserve rate increase firmed as traders raised their bets. Fed Chairman Kevin Warsh has pledged to curb inflation but has offered no clear signal on the interest-rate path.

India’s Bharat Electronics (BEL) said it has secured a new order worth ₹73 billion. The announcement is expected to put the stock in focus on Thursday. The shares have rebounded 8% in August, reversing an earlier decline.

Western Digital shares have fallen 45% from their recent high, but the company’s fundamentals remain solid. Revenue climbed 36% to $12.9 billion, while gross margin rose to 49.1% and operating margin widened 1,290 basis points to 37.3%. EPS more than doubled to $10.22 and free cash flow reached $3.5 billion. Management forecast next-quarter revenue of about $4.1 billion, roughly 45% YoY growth, with gross margin of 55% to 56% and EPS of about $4 versus $1.78 a year earlier.

Meta has agreed to pay $US17 billion and add child-safety measures to Facebook and Instagram to settle teen social media addiction claims brought by 47 states. The lawsuit alleged Meta intentionally built addictive features that harmed teenagers’ mental health and misled the public about them. Meta has said potential financial penalties in the case could have reached as much as $US1.4 trillion.

U.S. stocks opened lower on Wednesday after inflation data came in hotter than expected, reinforcing expectations of another Federal Reserve rate hike this year. The Dow, S&P 500 and Nasdaq all slipped at the open. Investors are awaiting Nvidia’s earnings for fresh clues on AI demand and the tech-led rally.

Meta has reached a federal-level settlement in a multi-state lawsuit alleging social media addiction, agreeing to pay $18 billion. After the announcement, Meta’s stock moved unevenly. The case has drawn broader debate over teen mental health and platform accountability.