Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Australia Jobs Growth Strengthens Rate Hike Outlook 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
European shares extended their losses on Tuesday as a deepening global equity selloff rattled investors. Mounting concerns over a prolonged Middle East war and a sharp surge in oil prices fueled fears of higher inflation and increased cost-of-living pressures across the euro zone.
The pan-European STOXX 600 index fell 1.3% to 615.72 points by 0804 GMT, after closing at its lowest level in more than two weeks in the previous session. The decline reflects growing market anxiety over geopolitical tensions and the potential economic fallout from escalating conflict in the Middle East.
Sector performance highlighted the broad-based weakness in European stock markets. Utilities and banking stocks led the downturn, each dropping 2.6%, as investors moved away from risk-sensitive assets. In contrast, energy stocks edged higher, building on gains from the prior session as crude oil prices surged amid supply concerns.
Investor sentiment deteriorated further after U.S. President Donald Trump defended a broad and open-ended military campaign against Iran, signaling that the objectives of the conflict had evolved. Adding to market jitters, an official from Iran’s Revolutionary Guards claimed that the Strait of Hormuz had been closed and warned that any vessel attempting to pass through would be targeted. The threat to one of the world’s most critical oil transit routes drove up global oil and gas shipping rates, intensifying worries about energy supply disruptions.
European Central Bank Chief Economist Philip Lane told the Financial Times that a prolonged war could significantly increase inflationary pressures while dampening economic growth in the euro area. Rising energy costs are already raising concerns about stagflation risks in Europe.
Among individual stocks, French aerospace and defense group Thales gained 0.7% after reporting annual core profit slightly above market expectations, offering a rare bright spot in an otherwise cautious European market environment.
