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

The United Arab Emirates said it was cutting all economic ties with Tehran after accusing Iran of firing ballistic missiles at its territory, ramping up regional tensions.

SK Hynix unveiled plans to buy back 40 trillion won ($29 billion) of stock and return more of its profits to shareholders in an effort to calm worries about the durability of AI spending. The memory chipmaker said it will buy back as many as 24 million treasury shares between Aug. 20 and Nov. 19 and cancel them, according to a regulatory filing Wednesday. It also boosted its shareholder return pledge to more than 50% of free cash flow, up from a previous target of within 50%. Its US shares rose as much as 7.1% in pre-market trading.

The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Guy Johnson, Tom Mackenzie and Skylar Montgomery Koning.

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