Public Markets 24 Hours

Last updated: June 23, 2026, 2:30 PM ET

Global Markets & Macroeconomics

The dollar surged to its highest level since November as traders solidified expectations for a Federal Reserve interest rate hike this year, a move that pressured gold and silver prices. Gold settled 1.24% lower and silver fell nearly 5.4%, marking a third consecutive session of declines for both precious metals. In fixed income, Treasuries gained as a selloff in U.S. stocks and falling oil prices tempered bets on Federal Reserve rate increases. Meanwhile, the yen consolidated against other currencies, though the risk of foreign exchange intervention by Japanese authorities is rising.

Technology & AI

A significant selloff in technology stocks dragged down global markets, with South Korean chipmakers leading the decline and the main index there plunging 10% from its record high as tech selloffs bite. S&P 500 futures pointed to a sharp fall amid the global downturn, with Nasdaq futures more than 2% lower in early European trade as the tech selloff deepens. SpaceX shares slumped, falling below their initial public offering price in premarket trading, and the company's stock price continued its slide. In a nod to the growing influence of AI, Meta is developing a prediction markets app, while Eli Lilly is deploying cash for an "App Store" for scientists to aid drug discovery. The burgeoning AI sector is also testing its financial clout in politics, with significant industry spending in a Manhattan primary to influence a candidate who supports greater AI regulation.

Corporate Dealmaking & IPOs

Retail giant Walmart agreed to acquire advertising technology firm Vibe.co for $1.4 billion, its largest deal in two years, to bolster its connected TV advertising capabilities. In the consumer goods sector, Edgewell Personal Care Co., maker of Schick razors, saw its shares leap nearly 18% after rejecting an unsolicited takeover bid from private equity firm Yellow Wood Partners. Gas station operator EG Group confidentially filed for a US IPO aiming to raise about $1 billion. Meanwhile, Energy Fuels is acquiring German magnetics firm for $1.9 billion, a move that aligns with efforts to build "mine-to-magnet" supply chains outside of China as US rare earths miner buys German magnet group. In the professional services sector, accounting firm Eide Bailly is selling a stake to private equity firm Reverence Capital for $1.8 billion.

Energy & Commodities

Russia is considering a ban on diesel exports to prevent domestic shortages following intensified Ukrainian attacks on its refineries, a move that could further disrupt global supply chains. Russia’s gasoline crunch is worsening, with fuel rationing and supply disruptions occurring across at least two-thirds of the country. The Middle East oil market is also seeing activity, with Iran and Oman working on a pact for Strait of Hormuz transit costs and Iran asserting control over the waterway by looking to charge transit fees as Iran makes moves to assert control. North Sea crude is weakening as Middle Eastern oil floods back into the market, fueling concerns of a supply glut. US natural gas futures declined on cooler weather forecasts and reduced LNG flows, with production and inventories limiting gains as U.S. Natural Gas Futures Fall.

Labor & Regulation

The Teamsters union is prioritizing wages over public good, according to critics, while also seeking to shed oversight meant to curb mob ties through a relationship with President Trump as Trump gives Teamsters a chance. Apple closed its first unionized US store, citing declining mall conditions, though the union accused the company of retaliation. In a setback for rent control advocates, the Massachusetts Supreme Judicial Court struck down a ballot proposal that would have imposed the strictest statewide rent control in the U.S. The U.S. Justice Department withdrew grand jury subpoenas issued to journalists from The Wall Street Journal and The Washington Post after the news organizations fought the requests.

International Markets & Geopolitics

The United Kingdom continues to grapple with the economic and political fallout of Brexit, a decade after the vote to leave the European Union. In Latin America, Pemex and Petrobras are teaming up on oil and refining projects to expand their reserves. Israel is considering listing state-owned defense giants on U.S. exchanges to potentially avoid stricter disclosure rules. Foreign investors are returning to Turkey, lured by high interest rates and fading geopolitical risks amid optimism surrounding a US-Iran peace deal. India's central bank allows banks to lend against forex deposits to boost inflows, while Indonesia faces a potential market status downgrade by MSCI that could spur capital flight as Indonesia stock market reforms could prompt delistings.

Economic Trends & Outlooks

The number of individuals with a net worth exceeding $30 million jumped by 14.4% last year, indicating a widening wealth gap. Meanwhile, European business activity showed resilience despite inflation and the Iran war's impact on confidence. The European Central Bank's Vice President Boris Vujcic sees inflation remaining higher for longer, justifying the bank's rate hike decision. In a bid to boost domestic industries, New York's green energy policies are being rethought due to AI data center demand and electricity shortages, potentially weakening opposition to fossil fuels. The U.S. is betting billions on low-cost loans to revive nuclear power, with the Energy Department allowing utilities to access government funds for reactor orders.

Specific Sector Developments

South Korea’s AI-fueled market selloff has renewed scrutiny of leveraged ETFs, a rapidly growing segment of retail investing. The U.S. solar industry's struggles are being attributed to environmental regulations and flawed tax credit structures, hindering its competitiveness against China. Businesses are taking significant risks to capitalize on the peptide trend, with doctors, telehealth companies, and venture capitalists racing into the injectable drug market. The city of Chicago is betting on quantum computing as a second chance to participate in the tech boom, despite the technology's unproven commercial applications. The cruise line Carnival reported booking disruptions due to the Iran war, particularly in the Mediterranean region, and issued a soft outlook.