Staff writers
Updated June 11, 2026 — 5:49pm, first published June 11, 2026 — 5:22am
The Australian sharemarket declined on Thursday as escalating tensions in the Middle East cast doubt on when America and Iran can reach a deal to reopen the Strait of Hormuz, and as technology stocks came under more pressure on Wall Street.
The ASX/S&P 200 finished down 20.1 points, or 0.2 per cent, at 8633.20, with banks and tech stocks leading the losses after the US began a fresh round of strikes against targets in Iran. A flight to defensive sectors such as consumer stocks blunted the decline: seven of the ASX’s 11 industry sectors still finished in the green. The Australian dollar was trading at US70.03¢.
The AI rollercoaster ride is continuing on Wall Street. AP “Markets are increasingly concerned that a prolonged conflict will extend the disruption in energy supply routes,” Moomoo dealing manager Chris Strazzeri said.
The latest strikes highlight Trump’s growing impatience with stalled peace efforts after months of failed negotiations. They also suggest the April ceasefire between the warring countries has effectively collapsed, despite the absence of a return to the large-scale bombing campaigns seen at the start of the conflict.
“We’re going to be attacking them, attacking them very hard,” Trump told reporters at the White House, before the latest strikes were announced. “We hit them hard yesterday, and we’re going to hit them hard again today.”
The escalation in the Persian Gulf sent oil prices higher, with Brent crude surging more than 2 per cent to trade above $US95 a barrel, while West Texas Intermediate advanced towards $US93, before paring gains after the US military announced an end to the brief campaign.
Energy stocks in turn advanced on the ASX, with Woodside Energy up 1.6 per cent and Santos 2 per cent higher. Coal producers also gained, with Yancoal climbing 4 per cent and Whitehaven Coal up 1.6 per cent as coal is emerging as an increasingly attractive alternative to oil for energy-starved countries across Asia.
“China has been restocking massive amounts of coal in recent months,” said Stamatis Tsantanis, chief executive officer of Seanergy Maritime Holdings. “Most importantly, coal is also becoming a strategic commodity for the United States.”
Meanwhile, technology stocks continued their rollercoaster ride. AI-related stocks again tumbled on Wall Street to continue a tumultuous month. Xero lost 3.6 per cent, WiseTech dropped 2.6 per cent, NextDC shed 4.2 per cent and Technology One dipped 1.6 per cent.
Financial stocks also declined across the board, heavily weighing on the market. Commonwealth Bank closed down 2.4 per cent, Westpac fell 2.6 per cent, National Australia Bank was down 1.8 per cent, and ANZ Bank fell 2.1 per cent.
However, mining turned higher in the afternoon as dip buyers waded in. BHP finished with a gain of 1 per cent, having fallen as much as 1.9 per cent early in the session. Rio Tinto edged up 0.3 per cent and Fortescue slipped 0.3 per cent.
Gold whipsawed, rising as much as 1.1 per cent in choppy trading as it reversed a drop of similar magnitude that took the metal close to $US4000 an ounce earlier in the session.
Northern Star fell 1.2 per cent as activist investor Elliott Investment Management stepped up its pressure on the nation’s biggest gold producer, urging the beleaguered miner’s board to take quick action and reconsider a sale amid its floundering market value. Newmont lost 3.5 per cent and Evolution Mining added 2.1 per cent in early trade.
Defensive stocks did well again in the risk-off market sentiment, with biotech giant CSL up 4.2 per cent, the nation’s biggest supermarkets Woolworths and Coles up 1.2 per cent and 1.6 per cent, and bottle shop owner Endeavour closing 1 per cent higher.
Southern Cross Media shares slumped 4.2 per cent after the business created from the merger of Kerry Stokes’ Seven West and radio group Southern Cross announced a profit downgrade and massive job cuts as market conditions continue to deteriorate. The cuts were foreshadowed by this masthead on Wednesday.
Lend Lease jumped 4.6 per cent after the property developer reaffirmed its earnings forecast and appointed former Macquarie and current AustralianSuper executive Nick O’Neil as its chief executive to replace Tony Lombardo, who will step down by the end of the month.
Overnight, the S&P 500 dropped 1.6 per cent for its first back-to-back drop in three weeks and has returned to where it was in early May. The Dow Jones tumbled 953 points, or 1.9 per cent, and the Nasdaq composite led the market lower with a 2 per cent slide.
Softer-than-expected inflation data offered a brief reprieve. Traders continued to price in higher US rates while a sell-off in richly valued technology shares raised doubts about the durability of the record rally in equities.
Wall Street has been shaky since last week, when AI stocks went from roaring to records to suddenly turning lower. Among the worries is t…
Read the full article at The Sydney Morning Herald →📄Source document: AP News→12 reports
ABC News (Australia)State / PublicCenter4 days agoOil prices have fallen to a three-month low due to reports that the United States will ease sanctions on Iran, allowing it to sell oil again. The Australian share market is expected to decline in morning trade, influenced by losses in Wall Street's technology stocks that dragged down the S&P 500 and Nasdaq indices.
Bias read (Center): The article provides factual updates on financial markets and does not present any ideological framing or biased language. It focuses on market movements and their potential causes without taking a stance or emphasizing particular political perspectives.
Official sources cited
- organisation Market snapshot
The AgeParty-alignedCenter4 days agoGlobal financial markets experienced mixed performance as oil prices fell below $US80 per barrel for the first time since March, while US stocks showed signs of consolidation. The S&P 500 declined slightly, and the Nasdaq composite dropped due to declines in major tech stocks like Nvidia. The Australian share market is expected to open lower, though it had risen slightly the previous day. The article notes concerns about overvaluation in AI-related sectors impacting market stability.
Bias read (Center): The article provides a factual summary of market movements without overtly favoring any political perspective. It focuses on economic indicators such as stock indices, oil prices, and sector-specific impacts without editorializing or emphasizing political implications.
The Sydney Morning HeraldParty-alignedCenter4 days agoOil prices fell below $US80 per barrel for the first time since March, while US stocks showed mixed performance with the S&P 500 slipping slightly and the Dow Jones setting a new record. The Australian share market is expected to decline, with the ASX facing potential losses at the open. Tech stocks, particularly those involved in artificial intelligence, experienced significant volatility, impacting overall market sentiment.
Bias read (Center): The article provides a factual summary of economic indicators such as oil prices, stock market movements, and the impact of AI-related tech stocks without showing any clear ideological framing or bias. It reports on market trends and does not take a stance on political issues.
The AgeParty-alignedCenter5 days ago ASX set to fall, global stocks jump on peace deal; SpaceX rises againGlobal stock markets experienced a rally following a tentative peace deal between the United States and Iran, aimed at extending a ceasefire and reopening the Strait of Hormuz. This development led to a decline in oil prices, easing concerns over inflation. In contrast, the Australian share market is expected to fall, with futures indicating a potential drop at the opening. The article also mentions the Reserve Bank of Australia's upcoming interest rate decision.
Bias read (Center): The article provides a factual account of market movements and geopolitical developments without apparent bias. It reports on economic indicators and international agreements without taking a stance or using loaded language.
Official sources cited
- government Reserve Bank of Australia
The Sydney Morning HeraldParty-alignedCenter5 days ago ASX set to fall, global stocks jump on peace deal; SpaceX rises againGlobal stock markets experienced a rally following a tentative peace deal between the United States and Iran, aimed at extending a ceasefire and reopening the Strait of Hormuz. This development led to a decline in oil prices, easing concerns over inflation. In contrast, the Australian share market is expected to fall, with futures indicating a potential drop at the opening. The article also mentions the Reserve Bank of Australia's upcoming interest rate decision.
Bias read (Center): The article provides a factual account of market movements and geopolitical developments without evident bias. It reports on economic indicators and international agreements without taking a stance or using loaded language.
Official sources cited
- government United States and Iran Peace Deal
- government Reserve Bank of Australia Interest Rate Decision
ABC News (Australia)State / PublicCenter10 days ago Live: ASX set to fall after Wall Street closed downThe article reports on the performance of financial markets, noting a decline in the ASX 200 index following a drop in Wall Street indices. It mentions concerns over potential increases in oil prices due to low inventory levels and provides updates on various financial indicators including the Australian dollar, global stock indices, commodity prices, and Bitcoin.
Bias read (Center): The article presents factual data on market movements without apparent ideological framing. It does not take a stance on policy, politics, or controversial issues. The content focuses on economic indicators and market trends, which are generally considered apolitical in nature.
Official sources cited
- organisation Markets snapshot
The Sydney Morning HeraldParty-alignedCenter10 days ago ASX set to fall as AI stocks, Middle East tensions weigh on Wall StreetThe Australian share market fell on Thursday due to rising tensions in the Middle East and continued pressure on technology stocks on Wall Street. The ASX/S&P 200 closed down 0.2% as concerns grew over potential disruptions to energy supply routes following renewed U.S. strikes against Iran. Defensive sectors like consumer stocks helped limit the decline, with seven of the ASX’s 11 industry sectors ending the day in positive territory. The Australian dollar traded at US70.03¢.
Bias read (Center): The article provides a factual summary of market movements and geopolitical events without overtly favoring any political side. It quotes officials and analysts neutrally and does not employ loaded language or omit key perspectives.
Official sources cited
- organisation Moomoo dealing manager Chris Strazzeri
- government Trump
The AgeParty-alignedRight10 days ago ASX set to fall as AI stocks, Middle East tensions weigh on Wall StreetThe Australian share market fell on Thursday due to rising tensions in the Middle East and continued pressure on technology stocks on Wall Street. The ASX/S&P 200 closed down 0.2% as concerns grew over potential disruptions to energy supply routes following renewed U.S. strikes against Iran. Defensive sectors like consumer stocks helped limit the decline, with seven of the ASX’s 11 industry sectors ending the day in positive territory. The Australian dollar traded at US70.03¢.
Bias read (Right): The article emphasizes U.S. military actions and quotes President Trump directly, using his strong rhetoric ('attacking them, attacking them very hard') without counterbalance. It frames the situation through the lens of Trump’s 'growing impatience' and focuses on the escalation of hostilities, omit
Official sources cited
- statement Moomoo dealing manager Chris Strazzeri
- statement President Donald Trump
The Sydney Morning HeraldParty-alignedCenter12 days ago ASX set to edge up, Wall Street closes lower after wild swingsThe Australian share market closed higher on Wednesday, with investors favoring consumer stocks despite ongoing tensions in the Middle East and a tech sell-off on Wall Street. Sigma Healthcare shares dropped after the company announced it was in talks to acquire the UK-based Boots pharmacy chain. The S&P/ASX 200 index rose 0.6%, with eight of the 11 industry sectors gaining ground. Meanwhile, the U.S. military conducted new strikes against Iran in response to the downing of an American helicopter, prompting Iranian officials to threaten retaliation.
Bias read (Center): The article provides a factual summary of financial market movements and geopolitical events without overtly favoring any political perspective. It reports on stock market performance, corporate actions, and international conflicts in a neutral tone, avoiding loaded language or biased framing.
Official sources cited
- government AP US forces launch strikes against Iran
- government Foreign Minister Abbas Araghchi statement on X
The AgeParty-alignedCenter12 days ago ASX set to rise, Wall Street steadies as tech stocks reboundThe Australian sharemarket closed with a slight decline after recovering from an early sell-off linked to concerns over rising US interest rates. The S&P/ASX 200 dropped 0.2 per cent, driven by weakness in mining stocks. Meanwhile, Wall Street showed signs of recovery as tech stocks rebounded following a sharp drop triggered by strong US employment data. The Australian dollar traded at US70.59¢.
Bias read (Center): The article provides a factual summary of financial market movements without overtly favoring any political perspective. It reports on economic indicators, stock performance, and geopolitical factors affecting markets, presenting information neutrally without apparent ideological framing.
Official sources cited
- statement S&P/ASX 200 index data
- statement US employment report
- statement Federal Reserve policy outlook
The Sydney Morning HeraldParty-alignedCenter12 days ago ASX set to rise, Wall Street steadies as tech stocks reboundThe Australian sharemarket closed with a slight decline after recovering from an early sell-off linked to concerns over rising U.S. interest rates. The S&P/ASX 200 dropped 0.2% to 8604.20, driven by weakness in mining stocks. Meanwhile, U.S. tech stocks rebounded following a dip caused by strong U.S. employment data, which raised fears of higher Federal Reserve interest rates. Improved oil prices and eased Middle East tensions contributed to better investor sentiment.
Bias read (Center): The article provides a balanced summary of market movements without taking a stance on economic policies or political entities. It reports on market reactions to external factors such as employment data and geopolitical developments without editorializing or emphasizing any particular viewpoint.
Official sources cited
- statement S&P/ASX 200 Index Performance
- statement U.S. Employment Report
ABC News (Australia)State / PublicCenter13 days ago Australian dollar dives to two-month low as interest rate fears grip marketsThe Australian dollar has fallen to a two-month low against the US dollar, driven by rising global interest rates and increased strength in the US dollar. The currency briefly recovered after a two-week truce between the US and Iran was mediated by Pakistan. Analysts attribute the decline to concerns over potential increases in US interest rates, which have led to a sell-off on Wall Street and a drop in stock indices such as the NASDAQ.
Bias read (Center): The article provides a factual account of the Australian dollar's performance, citing expert analysis and market reactions without apparent ideological framing. It does not take a stance on policy or political issues, focusing solely on financial market dynamics.
Official sources cited
- organisation InTouch Capital Markets
- statement Sean Callow, Senior FX Strategist
Australia