Market update: 9 June 2026
Australian shares fell 1.2% this week, underperforming global markets as concerns around interest rates and the Federal Budget weighed on sentiment. Investors continued to assess proposed tax changes, while inflation concerns were amplified after the Fair Work Commission announced a 6% increase to the minimum wage, above industry expectations. The decision has raised questions about whether inflation could prove more persistent, keeping pressure on the RBA to remain vigilant.
US markets experienced a broad pullback, with the Nasdaq down 4.7%, the S&P 500 falling 2.6% and the Dow Jones slipping 0.3%. The decline marked the S&P 500’s first weekly loss in nine weeks. Technology stocks led the weakness after a softer sales outlook from Broadcom prompted investors to reassess some of the companies that have benefited most from the AI boom. Market sentiment was also impacted by a stronger-than-expected labour market report, which increased expectations that interest rates could remain higher for longer. Meanwhile, Google announced an US$85 billion capital raising to support future AI infrastructure investment, highlighting the scale of spending taking place across the sector.
European equities also moved lower, with the Euro Stoxx 600 down 0.5%. Sentiment was pressured by reports that the Trump administration is considering new tariffs on global imports. Economic data added to concerns, with the eurozone economy contracting 0.2% in the first quarter and retail sales volumes declining in April.
Japanese shares edged higher, with the Nikkei rising 0.4%. Investors focused on the resilience of corporate earnings despite ongoing geopolitical uncertainty. The Bank of Japan signalled a greater likelihood of a rate hike in June, citing the need to remain alert to inflation risks. The yen also remained under pressure, trading near JPY 160 against the US dollar.
Chinese markets weakened, with the Shanghai Composite down 1.0% and the Hang Seng falling 0.9%. Economic data painted a mixed picture, with manufacturing activity stalling while smaller private-sector businesses showed greater resilience. Investor attention also shifted towards the commercialisation of artificial intelligence, with developments from Tencent and reports surrounding DeepSeek drawing interest.
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This blog has been issued by Instreet Investment Limited (ACN 128 813 016 AFSL 434776) as Responsible Entity of the Raiz Invest Australia Fund (ARSN 607 533 022) and has been prepared without taking into account your objectives, financial situation or needs. Before acting on such information, you should
This blog has been issued by Instreet Investment Limited (ACN 128 813 016 AFSL 434776) as Responsible Entity of the Raiz Invest Australia Fund (ARSN 607 533 022).
Raiz Invest Australia Limited (ABN 26 604 402 815) (Corporate Authorised Representative of Instreet Investment Limited ABN 44 128 813 016, AFSL 434776) is the promoter of Raiz Invest Super, a Division of AMG Super. The Product Disclosure Statement (PDS), Member Guide and Target Market Determination (TMD) are issued by Equity Trustees Superannuation Limited (AFSL 229757, RSE Licence No L0001458) as Trustee of AMG Super.
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