📆 Thursday, June 12
► European markets decline as Trump's new tariff threats increase nervousness
European indices extended losses as renewed tariff tensions triggered broad risk-off sentiment. The Stoxx 600 dropped -0.7%, with Germany’s DAX tumbling -1.1% and France’s CAC down -0.7%. Southern markets like IBEX (-0.75%) and FTSE MIB (-0.1%) also declined. PSI 20 (+0.35%) and FTSE 100 (+0.2%; near ATH) were standouts. Yields fell across the board: German 10Y Bund slipped to 2.478%, UK 10Y declined to 4.49%, reflecting increased demand for safety. The euro firmed to near 1.160 vs USD, while the pound edged up to 1.358.
► US markets set for second day of losses amid tariff risks, Boeing crash; PPI in focus
US futures extended losses: S&P 500 -0.5%, Nasdaq 100 -0.6%, and Dow -0.7% as Trump’s unilateral tariff threats rattled investor confidence. A deadly Boeing 787 crash weighed heavily on sentiment, with Boeing shares down over 7.5%. Oracle bucked the trend, surging 7.7% after strong earnings and a bullish cloud outlook. Traders are now awaiting the PPI release for further inflation clues. Treasury yields fell, with the 10Y at 4.37%, as investors prepare for today’s $22B 30Y auction.
► Asian markets mixed after AI rally fueled by Nvidia/TSMC subsides & geopolitical tensions rise
Asia traded mixed as geopolitical concerns and fading AI optimism set a cautious tone. Hong Kong’s HSI (-1.36%) and Japan’s Nikkei (-0.65%) led the declines. Taiwan (-0.81%) and India’s Nifty 50 (-1.01%) also pulled back sharply. KOSPI (+0.45%) and NZX 50 (+0.34%) posted gains. The USD weakness caused the USD/JPY falling sharply to 143.60.
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