Public Markets 24 Hours

Last updated: June 26, 2026, 8:30 AM ET

Global Markets & Macroeconomic Trends

US equity futures resumed declines as weakness in chip stocks persisted, with Nasdaq futures also slipping amid a deepening tech selloff. This sentiment was echoed across Asian markets, where stocks tumbled as AI uncertainty jolted tech shares, with South Korea experiencing its second trading halt of the week after shares slumped more than 8%. Investors pulled money from US equities for the first time in three months, with record withdrawals from tech funds signaling that the artificial-intelligence trade is cooling. Chinese hedge fund managers are issuing warnings that the AI boom has become an unsustainable bubble, with DeepSeek planning a hiring spree as China escalates its AI talent war.

Technology & AI Sector

The artificial intelligence rally has become bifurcated, creating clear winners and losers among tech stocks. OpenAI is reportedly leaning toward delaying its initial public offering until 2027, further soured sentiment around the AI boom. Apple's price hikes for its products have sparked a selloff in Asian tech markets, raising concerns that rising component costs could curb demand and slow the memory chip rally. ON Semiconductor agreed to acquire Synaptics in an all-stock deal valued at $7 billion, aiming to bolster its AI compute platform and human-machine interface technologies. However, research suggests that large-language models may not be adept at long-term stock market timing.

Energy & Commodities

European natural gas prices edged higher as an attack on a cargo ship in the Strait of Hormuz renewed fears about safe passage. Oil futures fell on a likely technical correction, following overnight gains, and Saudi Arabia restarted crude loadings at a major Gulf terminal after a nearly four-month halt. Aluminum headed for its fourth weekly decline, pressured by a renewed selloff in Asian tech stocks and a stronger US dollar. Palm oil advanced on rising Malaysian exports and expectations of stronger demand from India as the festival season nears. Kazakhstan's Karachaganak oil and gas field cut crude production after a drone attack forced the shutdown of a processing plant in Russia that handles its gas.

Corporate & M&A Activity

Unilever is exploring a bid for supplement maker Thorne, valued at $4 billion, as it seeks to expand its health and wellness portfolio. Volkswagen is deepening its cost-cutting overhaul, with reports suggesting it could cut up to 100,000 jobs as part of a major restructuring. Boeing secured an order from China Southern Airlines valued at $3.62 billion, a significant win for the US manufacturer. Metinvest is seeking a new investor for a €3 billion ($3.4 steel plant project in Italy, aiming to reduce its commitment.

Emerging Markets & Sovereign Debt

Nigeria has accessed the first tranche of a $5 billion derivatives deal with a UAE bank, proceeding with a transaction that has faced scrutiny for its opacity. Lebanon's defaulted bonds saw a 400% rally begin to fade as investors confront potential delays in debt restructuring and lower recovery rates. Egypt's recent state-asset sales have met IMF targets, potentially unlocking about $1.6 billion in funding. Indonesian government funds totaling an estimated 400 trillion rupiah ($22 will be placed in state-owned lenders to continue fueling economic growth.

European Markets & Regulation

Zalando shares plunged after Germany's financial regulator opened a probe into the online fashion retailer's 2025 report over suspected violations of accounting rules. Brussels launched an antitrust probe into Sanofi, examining whether the drugmaker implemented a misleading campaign against a rival flu vaccine. Ryanair has stopped charging parents to sit with their children, reversing course after a British regulator began investigating the fees. Wise shares rose on the Stoxx 600 Index after reporting a profit beat and announcing a $500 million buyback program.

Climate & Energy Transition

Europe is grappling with a scorching heatwave, prompting Paris to suspend sports events and restrict public drinking to ease pressure on health services. Scientists have concluded that the extreme heat across Europe would not have been possible without global warming. In Texas, solar and batteries are beginning to challenge natural gas's dominance in power generation, though fossil fuels still lead. The UK government is subsidizing bank loans for green home improvements, backing up to 20% of loan costs for installations. Total Energies has been ordered by a court to account for its role in greenhouse gas emissions, a partial victory for campaigners.

Geopolitics & Strait of Hormuz

Iran has asserted its claim to authority over the Strait of Hormuz, a day after firing on a container ship, complicating efforts to revive use of the critical waterway. Despite an attack on a container vessel, traffic continued to flow through the Strait of Hormuz in both directions. The Panama Canal expects revenue to exceed its $5.2 billion forecast for fiscal 2026, as the closure of the Strait of Hormuz drove more ships through the waterway. The conflict in the Middle East has led Heathrow to lower its passenger outlook due to Middle East volatility.

US Politics & Supreme Court

The Supreme Court handed Trump a double victory on immigration enforcement, ruling that the Trump administration could end deportation protections for some migrants, a decision described as a victory 10 years in the making. The court's ruling leaves 1.3 million people from over a dozen countries vulnerable to deportation. President Trump requested $11.1 billion in new aid for farmers, which would be the second-largest aid package. The US is investing $250 million in I-Pulse Inc. for semiconductor and pulsed-power development, as part of efforts to reduce foreign reliance.

Financial Services & Banking

JPMorgan Chase is seeing its succession race heat up, with long-time lieutenant Marianne Lake no longer considered a contender for CEO. Cathay United Bank Chairman Kuo Ming-jian resigned following a regulatory breach at the lender's asset management affiliate. Binance will stop providing services to EU clients unable to obtain a license, advising customers on how to withdraw their money as MiCA rules come into effect. Revolut will require graduate hires to spend at least three days a week in the office, ending its "remote-first" policy.

Legal & Consulting Sector

The legal sector is exploring how to leverage psychology to overcome the fear of AI adoption, with in-house lawyers aiming to shed repetitive work rather than people. Despite increased spending on legal tech, barriers to its full embrace remain for law firms seeking clear gains from AI. Consultants are grappling with changes to billing practices as AI threatens to make the billable hour obsolete.