U.S. President Donald Trump gestures as he speaks to the media earlier than boarding Air Force One at Joint Base Andrews in Maryland, U.S., en path to Myrtle Beach, South Carolina on Aug. 21, 2026.
Evan Vucci | Reuters
Hello, that is Hui Jie writing to you from Singapore. Welcome to a different version of CNBC’s Daily Open.
President Donald Trump has accused Canada of wanting the advantages of a U.S. state, as the 2 international locations failed to succeed in a commerce deal. Treasury Secretary Scott Bessent, in the meantime, is threatening the “single greatest financial offensive ever marshalled” towards Iran.
As the U.S. goes after friends and foes alike, focus can also be on Treasury yields which have resumed their upward path after a quick hiatus.
What you might want to know as we speak
The relationship between the U.S. and Canada took a flip for the more serious over the weekend.
The U.S. on Saturday levied 50% tariffs on some Canadian items, after commerce talks between the neighboring international locations collapsed, with each governments blaming the opposite for not reaching a deal.
Canadian Prime Minister Mark Carney stated Ottawa would reply greenback for greenback, with retaliatory duties on U.S. items taking impact Sept. 8, prompting Trump to accuse Canada of in search of benefits of an American state. “Canada wants the benefits of being a State, without being one.”
Washington can also be utilizing entry to the American financial system as leverage towards Iran.
Treasury Secretary Scott Bessent is anticipated to announce a sweeping package of sanctions against Iran Monday, describing the measures as “the single greatest financial offensive ever marshalled against an adversary.”
Last week, Bessent informed CNBC that the Trump administration’s plan to crush Iran’s economy will probably negate the necessity for main U.S. military operations towards the nation.
The Trump administration has demanded that U.S. allies and the remainder of the world cease doing enterprise with Iran, with Bessent including “we are going to them and saying you are either with us or against us.”
Iran, on its half, has slammed the moves, with its international ministry spokesperson Esmaeil Baqaei describing the measures as an assertion of “extraterritorial sovereignty” over different members of the United Nations.
As Bessent prepares to exert stress overseas, the bond market continues to use stress at house.
Markets slip as Treasury yields rise
U.S. stock futures slipped Sunday stateside as longer-dated Treasury yields resumed their climb Friday, erasing a lot of the rally after the Treasury Department’s choice to broaden its repurchases of presidency debt.
The 30-year yield rose to five.273%, whereas the benchmark 10-year yield climbed to round 4.734%.
While U.S. futures had been decrease, Asia markets had been blended. Japan’s Nikkei 225 rose in early trading, whereas South Korea’s Kospi declined.
In tech, Anthropic is poised to hit the general public market at a time when an growing variety of Americans are fearful about synthetic intelligence and are opposing new knowledge facilities that may energy the AI construct out.
That backlash is expected to be a key threat think about Anthropic’s IPO prospectus, in response to folks accustomed to matter.
The Claude creator has been holding preliminary “test-the-water” conferences with bankers and buyers, and CFO Krishna Rao is being requested about competitors, margin stress from open-source fashions, and what occurs if there is a slowdown within the constructing of knowledge facilities, the sources stated.
— Lim Hui Jie
And lastly…
No more doom scrolling or Instagram Stories? A Meta trial loss could end the social media we know
Meta says it faces a trillion-dollar penalty and injury to its promoting mannequin. But the trial may go properly past one firm. It may make social media unrecognizable.
The states need the courtroom to pressure Meta to take away “certain addictive design features” from its platforms, Instagram and Facebook. These embrace infinite scrolling, autoplaying movies, disappearing content material resembling Instagram Stories, magnificence filters, and algorithm-dominated feeds.
“This trial is potentially the end of social media as we know it,” Kate Winick, a principal analyst at Forrester, stated.
— Sawdah Bhaimiya