On July 24 the Association of German Chambers of Commerce (DIHK) and the German Wholesale and Foreign Trade Association said recent US tariff measures and frequent policy shifts are exacerbating operational and investment uncertainty. Volker Treier, DIHK head of foreign trade, said the US appears to be seeking a new legal basis to reinstate tariffs previously suspended by courts; the ongoing changes increase firms’ administrative and legal costs and undermine a predictable business environment.

Morgan Stanley analyst Adam Jonas said Friday the recent selloff has pushed SpaceX’s stock to a level that effectively prices its AI business at zero. Jonas wrote investor pessimism appears disconnected from fundamentals and creates an attractive buying opportunity. He warned upcoming lock-up expirations next month could allow insider sales and potentially drive the share price as low as $100 — a level that would imply zero or negative value for the AI unit. Jonas assigns a $300 target price, with more than 50% of the valuation attributable to SpaceX’s AI business.

On the morning of the 25th local time, a powerful explosion struck Masha Aman Souri in the Tyre district of southern Lebanon, audible in surrounding villages. Lebanese authorities said the blast was caused by the Israel Defense Forces.