UAE Cuts Economic Ties With Iran, SK Hynix Moves to Calm Market | The Opening Trade 8/19/2026

The United Arab Emirates announced it was cutting all economic ties with Iran following what it said were ballistic missile strikes on its territory. SK Hynix announced a $29 billion stock buyback program, with the memory chipmaker planning to repurchase and cancel as many as 24 million treasury shares between August 20 and November 19, according to a regulatory filing. The European Union pledged to spend up to €30 billion to build as many as seven artificial intelligence data centers across Europe.

Next story