South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
U.S. stocks extended their losing streak to four consecutive weeks on Friday, as escalating tensions in the Middle East rattled investor confidence and triggered broad risk-off selling across Wall Street.
Major indexes closed sharply lower after CBS News reported that U.S. Pentagon officials were drawing up detailed plans to potentially deploy ground troops into Iran. The S&P 500 dropped 1.5% to finish at 6,508.32, the Nasdaq Composite fell 2% to 21,647.61, and the Dow Jones Industrial Average lost 1%, settling at 45,576.83. On a weekly basis, the S&P shed 1.9%, the Nasdaq and Dow each declined 2.1%. Year-to-date losses now stand at 4.9%, 6.9%, and 5.2%, respectively.
Compounding the selloff was a quadruple witching event — the simultaneous expiration of stock index futures, stock index options, stock options, and single stock futures — totaling an estimated $4.7 trillion in derivatives contracts.
Bond markets also came under pressure, with the 10-year U.S. Treasury yield climbing 10 basis points to 4.384%, its highest point since last August. Rising yields weighed heavily on rate-sensitive sectors like utilities, real estate, and technology. Truist Chief Investment Officer Keith Lerner noted that stabilization in oil prices and the 10-year Treasury will be critical before markets can regain momentum.
Oil prices surged on the back of geopolitical concerns, with Brent crude rising nearly 3% to $111.78 per barrel. Supply fears intensified following Israeli strikes on Iran's South Pars gas field and retaliatory Iranian attacks on energy infrastructure across the region, including Qatar's Ras Laffan facility. Qatar announced its export capacity had been reduced by 17%, with repairs potentially taking up to five years.
In a rare bright spot, FedEx shares gained nearly 1% after the company raised its full-year profit outlook, though it cautioned that ongoing geopolitical disruptions could pressure future earnings through higher air freight costs and flight rerouting.
