Technology and AI developments shaped the second quarter of 2026. SpaceX completed the largest initial public offering on record, raising USD 75 billion. However, the company’s share price subsequently fell sharply, wiping approximately USD 400 billion from its market value in a single day, as investors grew increasingly concerned that AI-related companies had reached unsustainably high valuations and that persistently high interest rates could weigh on future growth. The resulting sell-off affected several major technology companies, including Nvidia, Micron, Qualcomm and Alphabet.
Geopolitical developments remained focused on Ukraine and the Middle East during the second quarter of 2026. Ceasefire negotiations between the United States and Iran progressed towards a broader peace agreement, although tensions persisted over the Strait of Hormuz. At the same time, Ukraine intensified its long-range drone campaign with strikes targeting Moscow and Russian energy infrastructure, underscoring the continued escalation of the conflict.
Political developments in Europe remained prominent during the period, with leadership changes, domestic reform initiatives and trade policy decisions shaping the regional outlook.
The quarter also featured several notable sporting and scientific achievements. NASA successfully launched the Artemis II mission, sending four astronauts on the first crewed mission around the Moon in more than 50 years and setting a new record for the farthest distance travelled by humans from Earth. On 11 June, the FIFA World Cup kicked off in the United States, Canada and Mexico, bringing together 48 national teams for the first time in the tournament’s history.
We are pleased to present the second edition of our 2026 Quarterly Brief, a publication that offers objective market data, which will keep readers abreast of the latest developments in the relevant financial markets.
