This content was published on
June 11, 2026 - 03:16
5 minutes
(Bloomberg) — Stocks pared their losses and oil trimmed its gain after the US military said it has completed its latest strikes in Iran.MSCI’s Asia Pacific Index gained 0.1%, having dropped as much as 1.4% earlier. Oil pared its advance to 1.7%, trading around $94.68 a barrel, having risen over $95 as geopolitical risks flared with US launching more attacks on the Islamic Republic.Gold also erased earlier losses and edged up. The weak sentiment at the start of the Asian day stabilized with US equity-index futures flipping earlier losses to rise as much as 0.6%. The Nasdaq 100 Index dropped 2% on Wednesday as traders were rattled by a renewed selloff in some of the largest tech firms.The latest US strikes had threatened to inject fresh volatility into markets and tighten crude oil supplies, risking renewed inflationary pressures. Even after Wednesday’s softer-than-expected US inflation report offered a brief reprieve, traders continued to price in higher borrowing costs while a selloff in semiconductor stocks cast doubt on the sustainability of the record equity rally.“Investors remain skittish despite being thrown a lifeline by the inflation figures,” said Chris Beauchamp, chief market analyst at IG. “It is now a case of ‘once bitten, twice shy’ – no one wants to go charging in to buy the dip yet, which suggests more of a drift lower for the time being, though leaving the overall trend intact.”US Central Command said it had begun what it called the “additional self-defense strikes,” which followed action on Tuesday in retaliation for the downing of a US helicopter. The moves underscored President Donald Trump’s growing impatience that the US and Iran have so far failed to reach an agreement.The attacks also reinforced the view that an April ceasefire has effectively collapsed, despite the absence of a return to the large-scale bombing campaign seen at the start of the conflict.“Markets retain a suspicion that this will be another brief episode of sound and fury signifying not much, so a degree of caution in positioning seems warranted,” said Sean Callow, a senior analyst at ITC Markets in Sydney.In the US, shares of chipmakers including Nvidia Corp. and other AI infrastructure companies, this year’s biggest winners, fell for a second day Wednesday. Oracle Corp. shares slipped in extended trading after reporting quarterly capital expenses that were higher than estimates.Elsewhere, the yen held near 160.55 per dollar with Bank of Japan Governor Kazuo Ueda hospitalized. He is expected to miss next week’s policy meeting, the central bank said.Meanwhile, the core consumer price index in the US, which excludes food and energy prices, increased 0.2% from April, under the 0.3% consensus forecast among economists polled by Bloomberg.Even so, bond traders maintained bets that the Fed would raise rates by the end of the year. While Treasury yields initially dipped after the data on Wednesday, they resumed climbing with oil prices later in the session. Interest-rate swaps showed traders are still fully pricing in a rate hike by December.“It’s clear that rate cuts are off the table, and while there is chatter about a potential rate hike, we believe it’s unlikely that we’ll see a rate hike before the midterm elections,” wrote Skyler Weinand, chief investment officer at Regan Capital.Corporate Highlights:SpaceX’s initial public offering has attracted orders worth more than four times the shares on offer, according to people familiar with the matter. The company is selling 555.6 million shares at $135 apiece, a deal that would raise about $75 billion and value the company at roughly $1.8 trillion. Super Micro Computer Inc. sank after the company announced a plan to raise $7 billion through a package of equity offerings, a move meant to help pay for the production of more AI servers. Shares of several large trucking companies plunged after Amazon.com Inc. announced an expansion of its shipping service that has already shaken the transportation and logistics sector and unsettled investors. JPMorgan Chase & Co., Barclays Plc and Fifth Third Bancorp won dismissal of a fraud lawsuit filed by holders of notes issued by Tricolor Holdings, the bankrupt subprime auto lender. Some of the main moves in markets:StocksS&P 500 futures rose 0.3% as of 10:14 a.m. Tokyo time Hang Seng futures rose 0.2% Japan’s Topix fell 0.6% Australia’s S&P/ASX 200 fell 0.2% Euro Stoxx 50 futures fell 0.4% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro rose 0.1% to $1.1552 The Japanese yen was little changed at 160.48 per dollar The offshore yuan was little changed at 6.7788 per dollar CryptocurrenciesBitcoin rose 0.4% to $62,007.96 Ether rose 0.5% to $1,637.43 BondsThe yield on 10-year Treasuries was little changed at 4.55% Japan’s 10-year yield advanced 1.5 basis points to 2.690% Australia’s 10-year yield was little changed at 4.89% CommoditiesWest Texas Intermediate crude rose 1.9% to $91.75 a barrel Spot gold rose 0.3% to $4,086.21 an ounce This story was produced with the assistance of Bloomberg Automation.–With assistance from Matthew Burgess.©2026 Bloomberg L.P.
