Public Markets 3 Hours

Last updated: June 23, 2026, 8:30 PM ET

Markets & Equities

Asian stocks looked set to extend losses as a punishing tech-led selloff on Wall Street deepened worries that the AI-driven rally may have advanced too far. Fears about the sustainability of the artificial intelligence boom sent stocks retreating sharply, driving a rout in the tech sector. Meanwhile, Google-parent Alphabet is slated to replace Verizon in the Dow Jones Industrial Average before the market opens on June 29, according to S&P Dow Jones Indices. China's social media platform Xiaohongshu is preparing to go public, signaling potential confidence in the nation's tech sector despite broader market anxieties.

Energy & Commodities

Oil futures held declines as an increasing number of tankers transited the Strait of Hormuz following progress in U.S.-Iran peace talks. This followed earlier indications of eased supply disruptions in the Middle East, which had driven oil lower. Exports from the United Arab Emirates in early June surged to nearly 85% of pre-Iran war levels, even before a peace deal was finalized. Gold prices extended their fall below $4,100 as a tech-led selloff prompted investors to liquidate bullion holdings to cover losses in other assets.

Global Politics & Economics

Germany is reportedly set to scrap plans to build its largest warship since World War II due to cost overruns and delays. In Asia, China is intensifying pressure on Japan by throttling shipments of critical minerals, impacting companies and prompting calls for diplomatic solutions. The UK's grid operator issued a rare summer power supply warning for Wednesday evening as soaring temperatures strain the nation's energy grid. Meanwhile, Colombia's natural gas reserves remain near an 18-year low, deepening a domestic shortfall.

US Politics & Policy

Congress cleared a housing bill with a lopsided House vote, sending it to President Trump for his signature after extensive negotiation. Alan Wilson secured the Republican primary for South Carolina Governor in a runoff that featured candidates endorsed by President Trump, whose picks have seen mixed results in gubernatorial contests this year according to election results. In New York, voters participated in high-stakes primaries as reported by the Times. The U.S. is also pressing Meta to agree to AI safety reviews, urging the company to allow government evaluations of its artificial intelligence models as the government monitors tech safety.