President Trump delivers the longest SOTU speech in history to defend his second-term record. Trump highlighted progress made on the economy and hailed the ‘golden age’ of America. Several new tech partnership announcements including from Anthropic boost U.S. software stocks in yesterday’s session and help push Asian equities into the green. UK banking giant HSBC posts a FY profit beat ahead of expectations despite being down on the prior year due to a series of one-off charges. CEO George Elhedery tells our colleagues in Hong Kong the recent shake-up at the lender s beginning to bear fruit.

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Wall Street suffers another A.I.-fueled sell-off with enterprise software and private capital leading losses. Investors’ fears reappear following the unveiling of a new Anthropic programming language and a report predicting mass white collar job losses. Asia-focused lender Standard Chartered posts a Q4 miss despite seeing a surge in its wealth management business and the announcement of a $1.5bn share buyback. CEO Bill Winters tells CNBC the current tariff turmoil is delaying investments. As an updated global tariffs regime of 10 per cent take effect, U.S. President Donald Trump warns countries against ‘playing games’ with the SCOTUS decision to strike down his reciprocal levy agenda. The EU is to delay approval of its U.S. trade deal following the latest tariff announcements.

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U.S. President Donald Trump unleashes a new 15 per cent global baseline tariff – the maximum legal amount – following the Supreme Court’s ruling that reciprocal country-specific levies were illegal. The European Commission has insisted Washington honours its trade pact following Friday’s SCOTUS verdict. U.S. trade envoy Jamieson Greer says all agreements will remain in place. The tariff retaliation has pushed European futures south and Wall Street is also poised to start the new week deep in the red.

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