IIF: As of July, annual outflows from emerging-market equities totaled $86bn, versus $9bn a year earlier.

US President Trump said "If we don't strike Iran, it will obtain nuclear weapons," adding "this war is to prevent Iran from having nuclear weapons." He said he was frustrated with Iran's negotiating style, accusing Iranians of "agreeing at the table, then turning to the media to refuse," and called "Iran's economy...in chaos." On oil, Trump said "oil prices are lower than during Biden's administration."

CBC reports Canadian and U.S. trade officials are drafting a potential agreement and plan to present it to Trump next week.