Morning Market Pack — 23 June 2026
Data snapshot: around 06:10 GMT.
Asia-Pacific
| Index | Price | Net | % |
|---|
| Nikkei 225 | 71,075.24 | -1,278.72 | -1.77% |
| Shanghai | 4,147.549 | -15.547 | -0.37% |
| Shenzhen | 16,072.106 | -300.393 | -1.84% |
| Hang Seng | 23,499.88 | -268.64 | -1.13% |
| ASX 200 | 8,796.20 | -19.90 | -0.23% |
| KOSPI | 8,574.75 | -539.80 | -5.92% |
| Straits Times | 5,216.97 | +12.96 | +0.25% |
| NZX 50 | 13,435.77 | -10.28 | -0.08% |
Headlines
- S&P 500 futures decline as tech sell-off drags markets lower; South Korea’s KOSPI slides sharply
- US tech megacaps slide as SpaceX extends slump and AI expense concerns grow
- Nasdaq drops, oil slides after signs of US-Iran progress
- SpaceX falls for third day, erases $600bn in market value
- Oil falls as US-Iran talks ease supply-risk premium
- Conflicting US-Iran advice on Hormuz leaves shipowners adrift — FT
- Yen intervention risk rises on reports of Katayama-Bessent talks — Bloomberg
US Cash Close
| Index | Close | Net | % |
|---|
| Dow Jones | 51,712.71 | +148.01 | +0.29% |
| Nasdaq Composite | 26,166.602 | -351.329 | -1.32% |
| S&P 500 | 7,472.79 | -27.79 | -0.37% |
| Russell 2000 | 3,004.404 | +24.638 | +0.83% |
| VIX | 17.28 | +0.50 | +2.98% |
US Futures
| Future | Price | Net | % | Implied Open |
|---|
| Dow Fut | 51,985.00 | -134.00 | -0.26% | -42.71 / -0.08% |
| S&P Fut | 7,482.50 | -58.75 | -0.78% | -44.29 / -0.59% |
| Nasdaq Fut | 30,233.75 | -419.75 | -1.37% | -348.33 / -1.14% |
| Russell 2K Fut | 2,998.40 | -25.70 | -0.85% | -34.00 / -1.12% |
US Treasury Yields
| Tenor | Yield | Change |
|---|
| US 6M | 3.965% | -0.5bp |
| US 1Y | 4.038% | +0.5bp |
| US 2Y | 4.211% | -1.9bp |
| US 3Y | 4.229% | -2.0bp |
| US 5Y | 4.273% | -1.3bp |
| US 7Y | 4.380% | -0.9bp |
| US 10Y | 4.503% | -0.4bp |
| US 20Y | 4.967% | +0.4bp |
| US 30Y | 4.951% | +0.6bp |
Commodities
| Commodity | Price | Net | % |
|---|
| WTI Crude Aug 26 | 73.76 | -0.10 | -0.14% |
| Brent Aug 26 | 77.64 | -0.26 | -0.33% |
| Natural Gas Jul 26 | 3.264 | +0.011 | +0.34% |
| RBOB Gas Jul 26 | 2.9817 | -0.0053 | -0.18% |
| Heating Oil Jul 26 | 3.0877 | -0.0054 | -0.17% |
| Uranium Jun 26 | 85.60 | UNCH | UNCH |
| Lumber Jul 26 | 636.00 | UNCH | UNCH |
FX
| Pair | Price | Net | % |
|---|
| USD/JPY | 161.60 | +0.06 | +0.04% |
| EUR/USD | 1.1421 | -0.0006 | -0.0525% |
| GBP/USD | 1.3235 | -0.0012 | -0.0906% |
| AUD/USD | 0.6965 | -0.0034 | -0.4858% |
| NZD/USD | 0.5691 | -0.0022 | -0.3851% |
| EUR/GBP | 0.8627 | +0.0005 | +0.06% |
| USD/CNY | 6.7781 | +0.0036 | +0.05% |
| USD/KRW | 1,534.30 | -3.70 | -0.2406% |
Calendar — GMT
| Time | CCY | Event | Forecast | Previous |
|---|
| 07:30 | EUR | HCOB Germany Manufacturing PMI (Jun) P | 50.3 | 50.2 |
| 07:30 | EUR | HCOB Germany Services PMI (Jun) P | 49.0 | 48.7 |
| 08:00 | EUR | HCOB Eurozone Manufacturing PMI (Jun) P | 51.6 | 51.6 |
| 08:00 | EUR | HCOB Eurozone Composite PMI (Jun) P | 49.1 | 48.5 |
| 08:00 | EUR | HCOB Eurozone Services PMI (Jun) P | 48.6 | 47.7 |
| 08:30 | GBP | S&P Global Composite PMI (Jun) P | 50.6 | 49.3 |
| 08:30 | GBP | S&P Global Manufacturing PMI (Jun) P | 53.5 | 53.9 |
| 08:30 | GBP | S&P Global Services PMI (Jun) P | 50.1 | 49.3 |
| 08:30 | EUR | ECB's Lane Speaks | — | — |
| 08:35 | EUR | German Buba Mauderer Speaks | — | — |
| 12:15 | USD | ADP Employment Change Weekly | — | 25.50K |
| 13:15 | EUR | ECB's Elderson Speaks | — | — |
| 13:45 | USD | S&P Global Manufacturing PMI (Jun) P | 54.6 | 55.1 |
| 13:45 | USD | S&P Global Composite PMI (Jun) P | — | 51.5 |
| 13:45 | USD | S&P Global Services PMI (Jun) P | 51.1 | 50.7 |
| 14:00 | USD | 2-Year Note Auction | — | 4.071% |
| 16:30 | USD | API Weekly Crude Oil Stock | — | -8.330M |
Commentary
Risk sentiment is soft this morning. Asia is broadly weaker, led by a sharp fall in South Korea’s KOSPI, while US futures point lower with Nasdaq futures under the most pressure. The main equity concern is no longer just geopolitics; it is back to expensive technology valuations, AI spending discipline, and the sharp reversal in SpaceX after its post-IPO rally.
Oil is lower despite the Middle East remaining central to the macro backdrop. The market is taking some comfort from signs of progress in US-Iran talks and a possible easing of the supply-risk premium. That helps inflation expectations at the margin, but it has not been enough to offset the broader risk-off tone in equities.
Bond yields are modestly lower across the front and belly of the curve, with the US 2-year down around 1.9bp and the 10-year down around 0.4bp. That suggests a defensive bid, but not a full-blown flight to quality. The dollar is mixed, with USD/JPY still elevated around 161.60, keeping intervention risk firmly in focus.
Today’s focus is the global PMI run, starting with Germany and the Eurozone, then the UK, followed by US PMIs and weekly ADP employment. Softer PMI prints would reinforce the growth concern; stronger prints may not be enough to rescue sentiment unless tech stabilises.
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