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Global stocks post best Q2 in six years amid AI boom, yen slump

Gulf Today

July 01, 2026

Global stocks were headed for their best second-quarter performance in six years on Tuesday, while a resurgent dollar pushed the yen to a four-decade low and was headed for a fourth straight quarterly rise.

Global stocks post best Q2 in six years amid AI boom, yen slump

Within the past three months, the Strait of Hormuz has re-opened gradually and haphazardly as hostilities between the US and Iran receded into a fragile ceasefire, knocking 20% off the price of oil. In addition, a dramatic shift in expectations for US interest rates has occurred, against a backdrop of a seemingly unstoppable boom in artificial intelligence stocks.

The MSCI All-World index has risen almost 14% to record highs in the last three months, marking its best second-quarter performance since 2020.

Most of the gains have been powered by a scorching rally in anything AI-related, particularly in Asian markets, where indexes in Japan, South Korea and Taiwan have logged double-digit percentage gains. The S&P 500 is also up 14 per cent and the Nasdaq, which welcomed $2 trillion SpaceX to its ranks in June, has gained 20 percent.

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