WS #10166

The US-Iran ceasefire deal is showing signs of fragility. Iran has cancelled its delegation's trip to Switzerland over Israeli ceasefire violations in Lebanon, and Iran is threatening to withdraw from the MOU if Israel does not implement an immediate ceasefire. This contradicts the earlier narrative of a stable deal and introduces significant escalation risk. Separately, Accenture cut its revenue guidance, triggering a sharp sell-off in IT stocks globally, with Infosys and Wipro ADRs falling up to 10% overnight. This is a major negative signal for the tech sector. Apple CEO Tim Cook confirmed price increases are coming due to rising chip costs, which is a negative for consumer demand. On the macro front, Japan's CPI remained muted at 1.4% core, but the Bank of Japan is expected to look through the subsidy-driven softness. Goldman Sachs cut its year-end gold forecast by $500, citing no Fed cuts, which is bearish for gold and bullish for the dollar. The dominant narrative is shifting from 'deal optimism' to 'deal fragility', with the IT sector facing a demand shock.