Daily Digest — 10 Jun 2026

Tensions in the Middle East exploded into full-scale conflict as US forces struck Iran in retaliation for downing an American helicopter over the Strait of Hormuz, with Iran responding by targeting Bahrain, Kuwait and Jordan with missile strikes that Jordan successfully intercepted. The escalation sent markets into defensive mode, with bitcoin tumbling 3.4% and gold falling nearly 2% as rate hike expectations dampened risk appetite across all asset classes.

The conflict’s economic ripples reached China, where wholesale inflation hit a near four-year high as supply disruptions from the Middle East boosted input costs. Oil remained surprisingly stable at $88, suggesting markets may be pricing in strategic reserve releases or alternative supply routes. Elsewhere in the region, Pakistan’s air raids in Afghanistan killed 13 people, including 11 children, adding another layer of instability to the broader crisis.

In Belfast, anti-immigration protests erupted following a knife attack by a Sudanese man, with fires burning across the city as residents fled their homes. The unrest highlights growing social tensions in the UK amid broader questions about Justice Secretary Lammy’s proposed cuts to jury trials, which MPs warn could damage race relations.

Technology markets showed mixed signals as Google slashed AI subscription prices in an escalating price war, while Anthropic launched Claude Fable 5, its latest Mythos-class model. The moves come as SpaceX prepares for its highly anticipated IPO, with retail allocation still uncertain across major brokerage platforms.