U.S. President Donald Trump gestures and speaks to the media before boarding Air Force One at Joint Base Andrews in Maryland, U.S., on his way to Myrtle Beach, South Carolina, on August 21, 2026.
Evan Vucci | Reuters
Hello, my name is Hui Jie from Singapore. Welcome to another edition of CNBC’s Daily Open.
President Donald Trump accused Canada of looking out for U.S. national interests after the two countries failed to reach a trade deal. Meanwhile, Treasury Secretary Scott Bessent has threatened to launch “the largest financial attack in history” against Iran.
All eyes are also on U.S. Treasury yields, which have resumed their upward trajectory after a brief hiatus, as the U.S. goes after friends and foes alike.
What you need to know today
Relations between the United States and Canada deteriorated over the weekend.
The United States imposed 50% tariffs on some Canadian products on Saturday after trade talks between the neighbors collapsed, with both governments accusing the other of failing to reach an agreement.
Canadian Prime Minister Mark Carney said Ottawa would respond with dollars to retaliatory tariffs on U.S. goods that go into effect on Sept. 8, and President Trump accused Canada of pursuing U.S. national interests. “Canada wants the benefits of being a nation, not a nation.”
The US government is also using access to the US economy as leverage against Iran.
Treasury Secretary Scott Bessent is expected to announce comprehensive sanctions against Iran on Monday, describing the measures as “the single largest financial attack ever waged against an adversary.”
Bessent told CNBC last week that the Trump administration’s plan to destroy Iran’s economy likely eliminates the need for a major U.S. military operation against the country.
The Trump administration has called on U.S. allies and other countries to stop doing business with Iran, Bessent said, adding: “We’re going to go to them and say, you’re either with us or you’re against us.”
Iran condemned the move, with Foreign Ministry spokesman Esmail Bacaei describing it as an assertion of “extraterritorial sovereignty” over other UN member states.
While Mr. Bessent prepares to apply pressure abroad, bond markets continue to apply pressure at home.
Market falls as government bond yields rise
U.S. stock futures fell on Sunday as long-term Treasury yields resumed their rise on Friday, erasing much of the gains made after the Treasury Department decided to expand its bond purchases.
The 30-year bond yield rose to 5.273%, while the benchmark 10-year bond yield rose to about 4.734%.
While US futures fell, Asian markets were mixed. Japan’s Nikkei Stock Average rose in early trading, but South Korea’s Kospi fell.
Anthropic is poised to hit the public market as more Americans in the tech industry worry about artificial intelligence and oppose new data centers that power AI builds.
Such a rebound is expected to be a key risk factor in Anthropic’s IPO prospectus, according to people familiar with the matter.
Claude’s creators have held preliminary “read-through” meetings with bankers and investors, and Chief Financial Officer Krishna Rao has been fielding questions about competition, margin pressures from the open source model and what will happen if data center construction stalls, the people said.
— Lim Huijie
And finally…
No more catastrophic scrolling and Instagram Stories? Losing in meth court case could end social media as we know it
Meta says it faces trillions of dollars in fines and damage to its advertising model. However, this trial may go beyond just one company. Social media may become unrecognizable.
States are asking courts to force Meta to remove “certain addictive design features” from its platforms Instagram and Facebook. These include infinite scrolling, video autoplay, disappearing content like Instagram Stories, beauty filters, and algorithm-driven feeds.
“This case could spell the end of social media as we know it,” said Kate Winnick, principal analyst at Forrester.
— Sauda Baimiya
