Market update: 24 June 2025
Global markets ended the week on a mixed note, largely driven by heightened geopolitical tensions and trade policy developments. Overnight airstrikes by Iran on U.S. bases in Qatar have sharply escalated tensions in the Middle East, raising concerns over regional stability and has rattled investor sentiment, sending oil prices surging and broader indices lower, reversing gains from earlier in the week.
Over in the US, equities swung between optimism and concern, closing with the Dow flat, Nasdaq up 0.2%, and S&P 500 down 0.2%. Markets initially cheered potential US–China trade progress, rumours of rare-earths deals and eased student visa tensions fuelled investor confidence, but Friday’s Middle East shockwaves brought caution back.
European markets were mostly in the red, with the FTSE, Euro Stoxx 50 and Euro Stoxx 600 all declining. The fallout from ongoing Middle East conflict drove oil prices higher and raised fears of broader supply disruptions. Like the Fed, the Bank of England also held interest rates steady, citing persistent inflation and global uncertainty.
Asian markets were also impacted by the turbulent global backdrop. Greater China stocks saw declines, with the Hang Seng and Shanghai Composite down 1.5% and 0.5% respectively. In Japan, however, the Nikkei posted a 1.5% gain, reaching a four-month high, buoyed by a stable policy stance from the Bank of Japan. Trade talks between the US and Japan at the G7 summit ended without a deal, and reciprocal tariffs are expected to return to elevated levels from July 9.
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