--- title: "EMEA Morning Briefing: U.S. Launches Strikes on Iran" type: "News" locale: "en" url: "https://longbridge.com/en/news/289271831.md" description: "EMEA markets opened higher as U.S. forces resumed strikes on Iran following a helicopter attack, escalating Middle East tensions. European equity futures rose while Asian stocks fell. Oil prices increased due to supply disruption fears, whereas gold and copper declined amid risk-off sentiment and rising yields. The U.S. dollar strengthened ahead of CPI data, with analysts citing debt sustainability concerns but expecting outperformance against the euro. Tech sector rotation continued on Wall Street." datetime: "2026-06-10T04:23:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/289271831.md) - [en](https://longbridge.com/en/news/289271831.md) - [zh-HK](https://longbridge.com/zh-HK/news/289271831.md) --- # EMEA Morning Briefing: U.S. Launches Strikes on Iran MARKET WRAPS Watch For: No major economic or corporate trading updates expected Opening Call: European stock futures were higher, after Asia stocks broadly fell. U.S. Treasurys edged higher, the dollar strengthened. Gold fell and oil rose. Equities: European equity futures were higher, as U.S. forces resumed bombing Iran in retaliation for Monday's attack on a U.S. helicopter, which required the military rescue of two crew members. Overnight on Wall Street, the abrupt rotation out of the tech sector that started Friday and resumed Tuesday reflects the market's second thoughts about the AI revolution, as it's hard to discern the fundamentals that made tech such an investor darling in the first place. "The Magnificent Seven have moved from being cash-cow buyback machines to much more capital-intensive businesses, with some needing to issue shares--a complete 180-degree shift that should command a much lower multiple," said Sibilla Global Fund's Lorenzo Di Mattia. "Semis and the rest of the AI complex still have the best fundamentals, but the charts are parabolic and the hurdle for further upside keeps rising." Forex: The greenback strengthened against most currencies ahead of the U.S. CPI data expected later in the day, with Danske Bank analysts saying U.S. debt sustainability concerns pose a risk to the dollar's valuation. "Booming U.S. debt risks higher inflation if investors start to shed U.S. Treasurys," they said, adding that higher inflation erodes the dollar's value. While the Federal Reserve could raise interest rates later this year to curb inflation, supporting the dollar, higher rates also increase interest expenses on the current stock of U.S. debt. The analysts said they expect the euro to fall to $1.12 in 12 months, citing U.S. economic outperformance versus the eurozone, although they still see the dollar's valuation on "shaky ground." The U.S. will run into the debt ceiling again next year, which could turn dollar sentiment negative, they said. Bonds: U.S. Treasury yields were higher ahead of U.S. inflation data and despite lingering tension in the Middle East. "A hot inflation print would reinforce 'higher-for-longer' U.S. rate expectations, supporting broad USD strength, particularly with the U.S.-Iran conflict showing no signs of a swift resolution," said MUFG Bank's Lloyd Chan in a research report. Middle East tensions remain front and center, the senior currency analyst added, noting the tensions weighing on global risk sentiment. Energy: Oil rose on escalating supply disruption concerns caused by the exchange of attacks between the U.S. and Iran. The U.S. launched strikes on Iran Tuesday in retaliation for the downing of a U.S. Apache helicopter near the Strait of Hormuz. The aircraft was struck by an Iranian Shahed drone off the coast of Oman while it was patrolling the area, multiple U.S. officials said. "Any renewed disruption could quickly bring upward pressure back into the market," said Zaheer Anwari, co-founder and CEO at The Revacy Fund. Metals: Gold fell amid renewed conflict in the Middle East as the U.S. launched strikes on Iran in retaliation for the downing of a U.S. Apache helicopter near the Strait of Hormuz, according to the U.S. Central Command. The yellow metal likely also remains weak due to rising global yields as central banks are expected to tighten their monetary-policy stances to tame inflation, according to a note from UOB's global economics & markets research team. \-- Copper fell amid renewed tensions in the Middle East. ANZ Research analysts noted the conflict continues to weigh on prices, adding that a report saying that China plans to invest around 2 trillion yuan to build data centers over the next five years is providing a tailwind for copper demand. Global spending on data-center infrastructure has been a key pillar in the bullish outlook for copper. \-- Iron ore was higher after falling from its recent peak levels. Prices are likely to remain range-bound in the near term, according to Nanhua Futures analysts in a research note. Global supply remains relatively high, with lower shipments from Brazil and higher shipments from non-mainstream mines, the analysts said. Investors have been closely watching the demand and supply of other black metals, which may have an impact on iron ore's prices. TODAY'S TOP HEADLINES The Corners of the Market Where Investors Are Riding Out Turbulence in Chip Stocks The nascent rebound in tech stocks ended in a lurching drop on Tuesday, with the Nasdaq composite losing about 1% in its largest blown gain since early January. The slide extended a bout of volatility that has raised worries that stocks' record run is rooted in the staggering gains of a handful of chip companies. Some fear that a narrow rally won't survive pressure expected from higher interest rates, worries about the AI trade and the pending avalanche of new tech shares that kicks off Friday with the massive SpaceX public offering. Meta Gets EU Antitrust Order to Open WhatsApp to Rival AI Chatbots The European Union told Meta Platforms to reverse a policy that effectively bans rival artificial intelligence chatbots from using a tool to communicate with users on WhatsApp as officials continue to probe the company's messaging service. The order marks the latest step from the European Commission-the EU's executive arm-in its competition probe into Meta's AI practices after the company updated its WhatsApp business terms last year. Sigma Healthcare in Preliminary Talks to Buy U.K.'s Boots Australia's Sigma Healthcare said it is involved in early discussions about a potential acquisition of U.K. drugstore chain Boots, as the company seeks to grow further beyond its home market. "Sigma continuously reviews opportunities that would create value for shareholders and has engaged in preliminary discussions in relation to the sale process," the pharmacy group said in an Australia stock-exchange filing Wednesday. It said there is no certainty of a deal. Write to singaporeeditors@dowjones.com Expected Major Events for Wednesday 04:30/NED: Apr Manufacturing output 05:00/FIN: Apr Industrial Production 06:00/SWE: Apr New orders & deliveries in industry 06:00/SWE: Apr Industrial Production Index 06:00/NOR: May CPI 06:00/DEN: May CPI 07:00/SVK: Apr Industrial production 07:00/AUT: Apr Production Index 07:00/CZE: May CPI 07:00/CZE: Apr Import & export price indices 07:00/TUR: Apr Industrial Production Index 08:00/BUL: Apr Industrial Production 08:00/ITA: Apr Industrial Production 09:00/GRE: May CPI 09:00/LUX: Apr Industrial Production 09:00/GRE: Apr Industrial Production Index 23:01/UK: May RICS Residential Market Survey All times in GMT. Powered by Onclusive and Dow Jones. Write to us at newsletters@dowjones.com We offer an enhanced version of this briefing that is optimized for viewing on mobile devices and sent directly to your email inbox. If you would like to sign up, please go to https://newsplus.wsj.com/subscriptions. This article is a text version of a Wall Street Journal newsletter published earlier today. (END) Dow Jones Newswires June 10, 2026 00:15 ET (04:15 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. ### Related Stocks - [BNO.US](https://longbridge.com/en/quote/BNO.US.md) - [IAU.US](https://longbridge.com/en/quote/IAU.US.md) - [GLDM.US](https://longbridge.com/en/quote/GLDM.US.md) - [UGL.US](https://longbridge.com/en/quote/UGL.US.md) - [UCO.US](https://longbridge.com/en/quote/UCO.US.md) - [USDU.US](https://longbridge.com/en/quote/USDU.US.md) - [UUP.US](https://longbridge.com/en/quote/UUP.US.md) - [USO.US](https://longbridge.com/en/quote/USO.US.md) - [SGOL.US](https://longbridge.com/en/quote/SGOL.US.md) - [GOLD.AU](https://longbridge.com/en/quote/GOLD.AU.md) - [GLD.US](https://longbridge.com/en/quote/GLD.US.md) - [PICK.US](https://longbridge.com/en/quote/PICK.US.md) - [MUFG.US](https://longbridge.com/en/quote/MUFG.US.md) - [8306.JP](https://longbridge.com/en/quote/8306.JP.md) - [U11.SG](https://longbridge.com/en/quote/U11.SG.md) - [ANZ.AU](https://longbridge.com/en/quote/ANZ.AU.md) - [603093.CN](https://longbridge.com/en/quote/603093.CN.md) - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [UOVEY.US](https://longbridge.com/en/quote/UOVEY.US.md) - [ANZGY.US](https://longbridge.com/en/quote/ANZGY.US.md) - [02691.HK](https://longbridge.com/en/quote/02691.HK.md) ## Related News & Research - [Oil extends losses, falling more than 3.5%](https://longbridge.com/en/news/289224549.md) - [Gold has tumbled during the Iran war - exposing a massive myth about geopolitical risk](https://longbridge.com/en/news/289050540.md) - [Oil rises nearly 1% as US launches new strikes against Iran, supply tightens](https://longbridge.com/en/news/289250762.md) - [Oil climbs as US-Iran tensions flare again while stockpiles tighten](https://longbridge.com/en/news/289271753.md) - [Rising fuel prices hit US farms as Iran war drags on](https://longbridge.com/en/news/289226888.md)