U.S. President Trump said he has not decided whether to withdraw U.S. forces from Europe, adding the decision will largely depend on developments in Greenland and Iran.

Harlan Ullman, chairman of the Kilowen Group and a retired US Navy officer, called current US‑Iran tensions very serious and warned they could escalate into a regional war, saying the next few days are critical. He blamed recent attacks on ships in the Strait of Hormuz on Iran and said the timing — during the multi‑day funeral for Iran’s assassinated supreme leader and a NATO summit in Turkey — suggests Tehran sought to raise pressure on Washington and strengthen its bargaining position while betting US military retaliation would be constrained by the risk of causing civilian casualties that would draw international condemnation. Ullman warned the standoff could lift global oil prices and increase political pressure on Trump.

KOSPI extended losses, sliding as much as 6% intraday and falling over 20% from its June peak, putting the market on track for a technical bear. Samsung Electronics and SK Hynix dropped about 7% and 5% respectively as investors reprice AI-driven demand. Leveraged ETFs amplified volatility. The chip sell-off persisted despite Samsung reporting quarterly profit up 19-fold this week, highlighting traders’ demand for more evidence that huge semiconductor supply‑chain capex is justified. Fidelity International portfolio manager Ian Samson said the volatility largely reflects fundamental uncertainty: strong AI-led chip demand is concentrated in roughly $1 trillion of capex by a handful of large tech firms, and if that spending proves unsustainable there is downside risk.