News

Micron Technology (MU.O) U.S. stocks fell more than 10% before the market opened.

Italy's FTSE MIB index fell to 52,000 points, down 1.51% on the day. Spain's IBEX35 index fell 1.00% during the day.

SpaceX (SPCX.O) U.S. stocks fell 2.3% before the market opened. The stock had fallen by about 23% in the previous three trading days.

U.S. chip stocks generally fell before the market opened. Intel (INTC.O) fell 7.6%, AMD (AMD.O) fell more than 6%, Qualcomm (QCOM.O) fell 5.4%, TSMC (TSM.N) fell more than 4%, Baidu (BIDU.O), Broadcom (AVGO.O), and Nvidia (NVDA.O) fell about 3%.

JPMorgan Chase: Raised the target price of IBM (IBM.N) from $270 to $291, and raised the rating from neutral to overweight.

The flash manufacturing PMI for June in the euro zone will be released in ten minutes.

Swiss Finance Minister Keller Suter: Companies can take risks, but they must bear responsibility. The government has to set the framework in the right way.

The preliminary value of Germany's manufacturing PMI in June recorded 50, a new low in five months. The preliminary value of Germany's services PMI in June was 46.8, a new low in 43 months. Germany's preliminary comprehensive PMI value in June recorded 48, a new low in 18 months.

The preliminary value of Germany's manufacturing PMI in June was 50, expected to be 50.4, and the previous value was 50.1.

Germany's preliminary comprehensive PMI value for June was 48, compared with the expected 49.6 and the previous value of 48.8.

The preliminary value of Germany's service industry PMI in June was 46.8, which was expected to be 49 and the previous value was 48.1.

Market News: Iranian President Pezhechiyan said before leaving for Pakistan on Tuesday that Tehran is seeking the full implementation of the memorandum of understanding reached with the United States. If all the terms of the MoU are implemented, many regional issues will be resolved.

Swiss Finance Minister Keller Suter: UBS (UBS.N) obtained a state guarantee, which distorted the market.

Data released by the Swiss National Bank show that Switzerland’s current account surplus was 16 billion Swiss francs in the first quarter of 2026, a year-on-year decrease of 11 billion Swiss francs. The bank also pointed out that the earnings base in the first quarter of 2025 is relatively high.

The share prices of European chip stocks ASML, ASM International, STMicroelectronics, and Infineon fell by 3% to 6%.

France’s flash manufacturing PMI for June is due in ten minutes.

The German DAX30 index opened on June 23 (Tuesday), down 286.61 points, or 1.14%, to 24864.87 points;The British FTSE 100 index opened on June 23 (Tuesday), down 63.44 points, or 0.61%, to 1,037 4.41 points;The FCHI index opened down 68.42 points, or 0.81%, at 8331.69 points on June 23 (Tuesday);The European Stoxx 50 Index opened down 67.27 points, or 1.07%, at the opening on June 23 (Tuesday). It reported 6244.05 points;Spain’s IBEX35 index opened down 72.38 points, or 0.37%, to 19502.92 points on June 23 (Tuesday);Italy’s FTSE MIB index opened down 475.28 points, or 0.90%, to 52321.50 points on June 23 (Tuesday).

At midday closing, the main domestic futures contracts fell more than rose, with Shanghai Silver falling by more than 6%, low-sulfur fuel oil (LU), liquefied petroleum gas (LPG), fuel oil, coke, propylene, and Shanghai Tin falling by more than 4%, and asphalt and SC crude oil falling by nearly 4%. In terms of increase, rapeseed meal rose by more than 1%, and beans and apples rose by nearly 1%.

Major European stock indexes opened lower, with the European Stoxx 50 index falling by more than 1%, the German DAX index falling by 1.2%, and the British FTSE 100 index falling by 0.67%.

US equity futures fell after a selloff in large tech names spilled into Asian AI-related shares, while investors awaited further progress in US‑Iran talks. Asia tech subindexes reversed an eight-day rally; Japanese and South Korean markets retreated and South Korean stocks dropped nearly 10%. Megacap tech moved in sync — Alphabet weakened and SpaceX slid as IPO enthusiasm cooled, notably for companies still cash‑flow negative yet reported to have raised about $75bn via an IPO. Market sentiment is shifting from last year’s broad AI euphoria toward a proof‑of‑performance phase, with investors demanding that heavy AI infrastructure investment produce returns. Market focus this week is Micron Technology’s earnings call. Gam Investment Management fund manager Jian Shi Cortesi said many investors holding AI names have large gains and may pare positions, and that tech is unusually sensitive to the interest‑rate outlook and potential Fed hikes.