plainmoneyThe nitty-gritty of property, stocks & money for everyday Australians

plainmoney — Market brief — Wednesday 24 Jun 2026 — 06:45 AEST

The straight answer

Global markets saw a broad risk-off move overnight, led by a significant tech sell-off on Wall Street. The S&P 500 fell by 1.4%, with the Nasdaq down 2.2%, as investors rotated out of growth stocks. This pushed the VIX 'fear gauge' up 12.8% to 19.5. For Australia, the ASX 200 is set to open softer, and the Australian dollar has weakened to 0.6918 against the US dollar. This means imports like petrol will be dearer. The next major catalyst is Australia's Monthly CPI indicator, due this Wednesday (24 Jun), 11:30am AEST.

What it means for you: Your super balance may see a dip due to global equity weakness and a softer AUD.

What's moving markets

Global equities experienced a broad sell-off overnight, primarily driven by a downturn in US tech stocks. The S&P 500 fell 1.4% to 7,365.5. The tech-heavy Nasdaq saw a larger decline of 2.2% to 25,587, while the Dow was down 0.1% to 51,666.8. This risk-off sentiment was reflected in the VIX volatility index, which rose 12.8% to 19.5. US 10-year bond yields were at 4.49%.

Commodities were also broadly lower. WTI crude fell 2.1% to US$73.3, and Brent crude was down 1.1% to US$77.1. Copper dropped 3.5% to US$6.133, while iron ore eased 0.4% to US$100.8. Gold also slipped 1.3% to US$4,128.1. In cryptocurrencies, Bitcoin (AUD) fell 1.9% to 90,256, and Ethereum (AUD) was down 3.0% to 2,403.1.

For Australia: The S&P/ASX 200 is expected to open softer, following the negative lead from Wall Street. The Australian dollar fell 1.2% against the US dollar to 0.6918. The decline in iron ore prices, Australia's top export, could weigh on the Materials sector, which closed down 0.6% in the prior session. Financials, however, saw a gain of 0.5%. The RBA cash rate remains at 4.35%, with the AU–US 10-year bond spread at +28 bp.

World & geopolitics

A significant theme overnight was a broad tech sell-off across global markets. As reported by Forbes, The New York Times, Reuters, and CNBC, tech stocks drove an "unnerving" sell-off. This widespread decline in technology shares contributed to the overall risk-off sentiment observed in equity markets.

Separately, Bloomberg.com reported that Gold steadied as US and Iran flagged early progress in peace talks. This development could ease some geopolitical concerns, though the broader market focus remained on equity performance.

What it means for your money

Your super: Global equity weakness, particularly in tech, and a softer Australian dollar may see a dip in your super balance.

Your cost of living: The weaker Australian dollar means imported goods, including petrol, will be dearer.

What to watch

The key event to watch is the AU Monthly CPI indicator, due this Wednesday (24 Jun), 11:30am AEST. If the print comes in hotter than expected, it could increase market expectations for a higher RBA cash rate, potentially lifting Australian bond yields and supporting the AUD. Conversely, a softer-than-expected reading could reduce rate hike expectations, potentially leading to lower yields and a weaker AUD. The live indicator to watch will be the immediate reaction in the AUD/USD and Australian bond yields.

Today's moves

S&P 500-1.4%Nasdaq-2.2%Aussie $-1.2%Gold-1.3%Oil (WTI)-2.1%Iron ore-0.4%Copper-3.5%BHP-0.7%Fortescue-1.7%Bitcoin-1.9%

The numbers

S&P/ASX 200
8,816.10
▼ -0.1%
AUD/USD
0.6918
▼ -1.2%
Iron ore 62% Fe
100.78
▼ -0.4%
RBA cash rate
4.35%
AU 10y bond
4.78%
AU–US 10y spread
+28 bp
S&P 500
7,365.46
▼ -1.4%
Nasdaq
25,587.04
▼ -2.2%
US 10y
4.49%
▲ +4 bp
Gold
4,128.10
▼ -1.3%
WTI crude
73.27
▼ -2.1%
BTC (AUD)
90,256.00
▼ -1.9%

What's coming up

What we're watching

RBA cash-rate path
Cash rate per latest RBA F1.1 (see today's numbers); market pricing for the next meeting tracked via OIS.
US Fed path
US 10y and Fed pricing set the global discount rate that flows into AUD and ASX valuations.
Iron ore & China demand
AU's #1 export; watch the big miners — BHP, Rio, Fortescue — as the live read on iron-ore demand.
China property & stimulus
Structural drag on AU commodity demand; watch PBoC/LPR and developer stress.
AU housing cycle
Mortgage cost = cash rate PLUS bank funding spreads; monthly Cotality + weekend auctions are the free read.
Yen carry & BoJ
AUD/JPY is a sensitive gauge of risk; a sharp yen rally can force global de-risking (cf. Aug-2024).
AI capex cycle
Drives global tech valuations and, via data-centre power/copper/uranium, several AU names.
Global risk regime
VIX + credit + equity-bond correlation define whether we're in a calm or stressed regime.

Sources

Free daily brief →