The World in Brief from The Economist

Global stocks sank as investors sold off semiconductor shares, signalling scepticism about the sustainability of the AI boom; The slump in chip stocks allowed Apple to briefly overtake Nvidia as the world’s largest company.

Donald Trump accused China of helping to rig America’s elections. Also, Xi Jinping told an audience at the World Artificial Intelligence Conference in Shanghai that AI development should be a “symphony of international co-operation”.

Protests broke out across several cities in Ukraine, where wartime demonstrations have been rare, after President Volodymyr Zelensky sacked Mykhailo Fedorov, the reformist defence minister.

Protests broke out across several cities in Ukraine, where wartime demonstrations have been rare, after President Volodymyr Zelensky sacked Mykhailo Fedorov, the reformist defence minister. Chevron, an American oil giant, will reportedly sign a deal with Iraq on Friday to invest in the country’s oil fields.

Oil prices rose for a fourth straight day as America and Iran continued to attack one another. Also, protests broke out in Ukraine, where wartime demonstrations have been rare, after President Volodymyr Zelensky sacked Mykhailo Fedorov, the defence minister.

America said it launched another wave of strikes, the second in a matter of hours, on Iran, targeting the country’s “military capabilities”.

America said it launched another wave of strikes, the second in a matter of hours, on Iran, targeting the country’s “military capabilities”; China’s economy grew by 4.3% year on year in the second quarter, the slowest rate of expansion since 2022 and below the government’s target of 4.5-5%.

China’s economy grew by 4.3% year on year in the second quarter, the slowest rate of expansion since 2022. Also, Donald Trump warned Iran that America would target its power plants and bridges next week unless its leaders “get to the table and negotiate”.

America launched new strikes on Iran moments before its naval blockade on Iranian ports came into effect.