Updated
Updated · Reuters · Jun 9
Nasdaq Drops 2.1% and Oil Slides 3.4% as Middle East Uncertainty, Inflation Fears Hit Markets
Updated
Updated · Reuters · Jun 9

Nasdaq Drops 2.1% and Oil Slides 3.4% as Middle East Uncertainty, Inflation Fears Hit Markets

3 articles · Updated · Reuters · Jun 9

Summary

  • MSCI’s global stock gauge fell 0.4% and the Nasdaq sank 2.07% as a selloff in heavyweight U.S. tech stocks erased an early rally and pushed investors toward utilities, real estate and healthcare.
  • Trump said Iran shot down a U.S. Apache helicopter in the Strait of Hormuz, while Israel struck Lebanon’s port city of Tyre after a brief easing in Iran-Israel tensions, leaving the regional outlook unclear.
  • U.S. crude settled down 3.4% at $88.20 and Brent fell 2.79% to $91.62 after the EIA said oil inventories in major economies were heading to their lowest since at least 2003 but forecast global demand would decline in 2026.
  • Wednesday’s U.S. inflation report added to caution after a strong May jobs report lifted expectations for tighter Fed policy; traders now see about a 43% chance of a 25-basis-point hike by December.

Insights

As investors flee tech stocks amid war fears, will the upcoming SpaceX IPO defy the market's new defensive mood?
With the Strait of Hormuz closed and markets tumbling, can the global economy withstand a prolonged U.S.-Iran military confrontation?
As oil inventories hit historic lows, what unconventional strategies can avert a full-blown global energy crisis this year?