Staff writersUpdated June 22, 2026 — 11:41am,first published June 22, 2026 — 5:30amMarket jitters returned to the Australian sharemarket with the start of the new trading week, with investors treading cautiously as talks between Washington and Tehran were clouded by a renewed threat from US President Donald Trump to strike Iran, sending oil prices up again.WiseTech Global shares dived, weighing down the tech sector, after reports that federal police are investigating its chairman and co-founder Richard White over claims he exploited a woman’s immigration status and financial insecurity for sex and that he provided false information on a visa application.The Middle East war continues to shape markets.Louie DouvisThe S&P/ASX 200 opened lower but clawed its way back up to trade 7.9 points higher at 8836.60 at 11.15am AEST, following its modest 0.3 per cent gain last week when the peace deal was announced. Seven of its 11 industry groups were in the red, though apart from tech they were down less than 1 per cent. The Australian dollar edged down 0.1 per cent to US70.02¢.“A potential unravelling of the US-Iran Memorandum of Understanding, which remains incredibly fragile given the events over the weekend,” is one of the biggest risks to sharemarkets, Tony Sycamore, an analyst at IG in Sydney, wrote in a note to clients.As the meetings between the two countries got underway on Sunday in Switzerland, Trump said in a social media post that he would strike Iran again if it doesn’t “immediately stop their highly paid PROXIES in Lebanon from causing trouble.”It comes after Tehran claimed on the eve of the talks that it closed the Strait of Hormuz again over Israel’s ongoing military campaign in Lebanon against the Iranian-backed Hezbollah militant group. The immediate impact on Hormuz traffic was unclear, but even before the recent ceasefire, millions of barrels of oil had been quietly escaping the waterway each day.Speaking on Sunday to Fox News, Trump said he told Iranian leaders directly that if they close the strait again, “you won’t even make it back” to Iran, using an expletive. Trump has threatened to impose tolls in the strait if a final deal with Iran isn’t reached in 60 days.Energy stocks were mixed as oil prices rose on the renewed uncertainty, with Brent, the international standard, advancing 1.3 per cent to $US81.65 per barrel, while US oil added 2.5 per cent to $US77.75. Oil and gas giant Woodside dropped 0.8 per cent, Santos rose 0.1 per cent and refiner Ampol slipped 0.1 per cent. Yancoal fell 1.2 per cent.The bump in oil prices sent airlines lower, with Qantas Airways down 0.6 per cent and Virgin Australia - which has resumed its daily code share flights to Europe via the Persian Gulf with Qatar Airways - dropping 1.9 per cent.With global uncertainty dragging on, the mining sector was also lower, with mining giants BHP (down 1.5 per cent), Rio Tinto (down 0.7 per cent) and Fortescue Metals (down 1.1 per cent) all in the red. Gold miners were mixed. Northern Star Resources slipped 0.4 per cent, while Evolution Mining added 0.6 per cent and Newmont rose 1 per cent.The big four banks were mixed. CBA and ANZ Bank were slightly higher, up 0.4 per cent and 0.5 per cent, respectively, while Westpac dropped 0.5 per cent and National Australia Bank slipped 0.4 per cent.The morning’s biggest loser was WiseTech Global, with the software maker’s stock plunging 10.6 per cent to their lowest in five years. The AFP’s human exploitation taskforce launched its investigation following a complaint by former Kyckr chief executive Kathy Phelan, who alleged White used a company letterhead to fraudulently sponsor Caroline Heidemann, a Brazilian once employed by WiseTech as a cleaner, for a visa. White is also alleged to have used his power and influence to coerce Heidemann into a sexual relationship.This masthead is not suggesting White is guilty of human exploitation or providing false visa documents, only that he is being investigated over these claims by the AFP. The AFP, White and Phelan declined to comment as did Heidemann, through her lawyers.WiseTech shares have slumped by almost two-thirds over the last 12 months, amid concerns about White’s private life and a broader software makers’ selloff over worries that increasingly sophisticated AI tools will be able to replicate many of their functions.Chicken giant Inghams slumped 6.4 per cent amid concerns about the spread of bird flu in Australia after authorities confirmed the detection of the H5N1 avian influenza strain in two wild birds in Western Australia. As a precaution, the poultry producer said this morning it has implemented a complete lockdown across all its farms and processing operations in the state.SGH shares climbed 3.5 per cent after the Kerry Stokes-backed company, which owns WesTrac, Boral and Coates and has a 20 per cent stake in Seven Network owner Southern Cross Media, announced a buyback of up to $500 million worth of its shares over the next 12 months.Metcash, the owner of the IGA supermarkets, rose 2 per cent even after saying its full-year net profit slipped 1.5 per cent to $279.1 million as sales edged up 0.7 per cent. Earnings from its food business, which includes IGA, rose 5.4 per cent, but its hardware and liquor divisions declined.In New York, with US cash markets closed for the Juneteenth holiday on Friday, S&P 500 futures declined 0.6 per cent this morning, pointing to losses when Wall Street starts its week.The US benchmark posted its best week last week since the end of May. The latest developments are a test to the optimism that has seen a technology-led rally in stocks gain further momentum after the US and Iran lifted their months-long dual blockade of the Strait of Hormuz late last week.“Of course, with Trump there can always be some derailment along the way, but we believe that we’re set into a new phase of de-escalation,” said Alexandre Drabowicz at Indosuez Wealth Management. He advised investors not to rush to conclusions about a permanent deal.UK gilts led a broad advance in European bond yields after Greater Manchester Mayor Andy Burnham won a seat in Parliament, handing him a pathway to challenge Prime Minister Keir Starmer for his job. Investors are debating whether a Burnham premiership might shift to a looser fiscal policy.The pound slid toward a fresh low for the year as Starmer is expected to set out a timetable for his departure as PM in the coming days, and may concede power as soon as Monday, people familiar with the matter said.Trump said in a post on Truth Social on Sunday that Starmer was to resign. A UK official said nothing had been communicated to Trump from the government, and he had not spoken to Starmer.With Bloomberg, APThe Market Recap newsletter is a wrap of the day’s trading. Get it each weekday afternoon.From our partners