Public Markets 24 Hours

Last updated: June 9, 2026, 5:32 AM ET

Global Markets Overview Global equities recovered from recent volatility as tech stocks regained footing following Monday's AI selloff, with Nasdaq futures climbing 1.2% in early European trade. The relief rally extended to emerging markets, where Korean stocks jumped 8% led by memory chipmakers after investors snapped up AI shares at discounted prices. Safe-haven assets stabilized with gold holding near $2,340/oz as Middle East tensions eased following Trump's announcement that Israel and Iran had agreed to halt missile strikes, though oil prices trimmed gains after Iran confirmed it ended military operations against Israel.

Asia-Pacific Markets Asian markets embraced AI dip-buying with emerging-market stocks posting their strongest performance in two months, as South Korea's tech-heavy index rebounded from Monday's 5% plunge. The Singapore dollar edged higher against the US dollar amid mild risk-on sentiment, while Taiwan's five-year government bond yields surged to a 16-year high as tighter banking-system liquidity and growing expectations of higher interest rates weighed on demand. South Korea prepared on-site foreign exchange inspections to curb speculative trading in the won, reflecting authorities' concerns about excessive currency volatility amid global market turbulence.

European Markets German industrial output grew for the first time since war broke out in Iran, fueling hope that Europe's largest economy is weathering the jump in energy costs. The Basque region launched a €500 million bond issue to support its industrial investment strategy, while satellite intelligence company Iceye quadrupled its valuation to over €10 billion in a funding round led by General Atlantic. BlackRock introduced a new space ETF for European investors that will add newly listed companies within 10 to 30 days, capitalizing on the growing commercial space sector.

M&A & Corporate Activity GSK advanced plans to acquire Nuvalent for $10.6 billion in a deal that would rank among the UK drugmaker's largest acquisitions, giving it ownership of three lung cancer drug candidates, two of which are under FDA review for approval this year. CIMB Group identified Indonesia as a strategic acquisition target despite investor concerns about Southeast Asian markets, with Malaysia's second-largest bank seeking merger opportunities in its neighboring economy. Bain Capital entered the bidding for Australian outdoor advertising company oOh!Media Group, joining a pack of potential buyers for the regional advertising firm.

Central Banking & Policy Indonesia's central bank unexpectedly raised interest rates in an off-cycle decision to support the rupiah after a selloff in stocks and bonds fueled capital outflows, with analysts suggesting the bank may deliver further hikes to shield the currency and curb market volatility. The Reserve Bank of India introduced discounted FX swaps at 1.5% to attract foreign inflows, allowing state-run firms to hedge overseas borrowings at roughly half the prevailing market costs. The Treasury market delivered an unequivocal message to Federal Reserve officials that interest rates need to remain higher, while Citigroup strategists warned that aggressive short-selling positions in US stocks and stretched bullish wagers on tech pose market risks.

AI & Technology Sector Wall Street rushed to fund the AI bonanza through debt deals, IPOs, and venture investments as tech companies continue to attract massive capital inflows. Apollo and Blackstone raised $35 billion in chip financing for AI developer Anthropic, one of the largest private credit fundraisings this year. OpenAI filed for a blockbuster IPO expected to value the Chat GPT creator at over $1 trillion, while SpaceX's IPO attracted $10 billion in orders as investors bet on Elon Musk's entangled AI empire spanning satellites and space-based computing. JPMorgan traders adopted a cautious stance on US stocks following last week's selloff, reducing their near-term bullish exposure amid volatile market conditions.

Commodity Markets Oil prices declined modestly after Israel and Iran agreed to end attacks following an escalation that threatened to derail efforts to end the Middle East war, with investors fleeing a bearish oil fund at a record pace as several buffers that had helped keep rallies in check began to fade. China's aluminum exports surged to fill global shortages caused by the Middle East conflict, while the country's oil imports slumped to an eight-year low as the Iran war disrupted supply chains. Morgan Stanley forecast upside risks for liquefied natural gas prices, projecting they could climb to levels not seen in more than