President Donald Trump is taking aim at major oil companies as American drivers continue to feel the pinch at the pump. Despite lower global crude prices, gasoline prices in the United States continue to be very high. Trump claims that big energy corporations are deliberately keeping fuel costs high to maximize their profits, calling the practice price gouging.

In response, Trump told his followers via Truth Social that he has ordered the Department of Justice to immediately investigate these oil giants. He warns that pump prices should be dropping much faster to reflect the cheaper cost of raw crude.

Both the West Texas Intermediate and Brent crude benchmarks have been slightly lower early morning but remain well above levels before the recent Iran crisis. This gap between falling oil costs and high retail gas prices is intensifying public and political pressure on the energy sector.

Tech Stocks Rebound While Private Markets Feel the Squeeze

Meanwhile, as the energy debate intensifies, wider financial markets are on a turbulent course. The stocks of the region’s technology sector have bounced strongly off a harsh selloff worldwide earlier in the week. South Korea’s Kospi index is leading this rebound. Tech giants like Samsung and SK Hynix posted sharp gains, offering relief to chipmakers and AI linked companies that took a heavy beating on Tuesday.

The Asian recovery came after a wild session on Wall Street, although the Nasdaq Composite had dropped 2.2%. Semiconductors suffered heavy selling, with the Philadelphia Semiconductor Index plummeting on the yaws. The shares of major players such as Micron Technology fell 13 percent, Sandisk lost over 5 percent, as did Intel, Advanced Micro Devices and Qualcomm.

In contrast, the traditional private markets are indicating some stress. Morgan Stanley recently restricted withdrawals from its $7 billion private loan portfolio. The investment bank actions its role after investor redemption requests multiplied higher than 11%, indicative of a liquidity concern in private markets.

Political Uncertainty Shakes the United Kingdom

Changes in the political landscape across the Atlantic add to investor jitters. Reports indicate that Chancellor Rachel Reeves is unlikely to hold her position in a new Labour government. Meanwhile, prime minister Andy Burnham is under intense pressure from economists and investors to clarify his soon to be announced economic policies.