Equities: The Nasdaq 100 plummeted 3.3% to close under pressure, while the S&P 500 slid 1.4% to finish at 7,365, closing below the 20-day moving average. The Dow Jones Industrial Average bucked the broader risk-off trend, closed almost unchanged on Tuesday, 23 June, supported by defensive health care stocks.
Fixed Income: Selling pressure dominated short-duration curves globally. The 2-year US Treasury yield remained firm at 4.2%, while the 10-year US Treasury yield traded above its 20-day moving average (4.49%) for the second consecutive session, settling at 4.50%.
FX: The US Dollar Index (DXY) staged an aggressive technical breakout past long-term range barriers amid risk aversion in global equities. The risk-sensitive Australian dollar dropped by 1.2%, hitting a 2-month low of 0.6916 against the greenback.
The British pound also wobbled, trading down 0.4% to settle at 1.3203 on Tuesday, looking to retest a 3-month low of 1.3160 amid waiting for clarity on the UK’s new Prime Minister’s policies. The Japanese yen continued to hover near the 161.95 multi-decade intervention threshold.
Commodities: Energy markets suffered extensive liquidation, with front-month Brent and WTI crude futures extending losses by 1.5% and 1.4% to settle at $76.73/bbl and $73.05/bbl on Tuesday, 23 June, while holding above their respective 200-day moving averages.
Spot gold continued its downward spiral, settling at $4,110/oz, just a whisker away from the 11 June 2026 low of $4,024/oz as surging sovereign bond yields and a dominant US dollar eroded its non-yielding appeal.
