The 08:00 report · 6.11.2026
The morning opened with turmoil in financial markets across Asia, a direct continuation of the tech stock crash on Wall Street. Meanwhile, diplomatic contacts surrounding Iran continue against the backdrop of high-level meetings in Moscow and discussions regarding their nuclear program.
Market turmoil in Asia: Nikkei tumbles 6%
Asian stock exchanges opened the trading day with sharp declines, as the Japanese Nikkei index plunged by more than 6% and South Korean chip stocks lost about 10% of their value. This negative trend, reported by Newsday and Bloomberg, is attributed to investor fears of a slowdown in the Artificial Intelligence sector, continuing the trend that characterized the last few trading days as covered by Tevel. Simultaneously, the Philippines recorded an increase in the unemployment rate to 5.4% in September, a figure indicating a gap between labor force growth and the economy's ability to create new jobs.
Wall Street turmoil: Tech and chip stocks tumble
United States stock markets suffered a severe shock on Wednesday, with the Nasdaq index entering correction territory and chip stocks wiping trillions of dollars off their market value. As detailed in earlier Tevel reports this week, the declines stem from concerns over political implications for AI infrastructure and an investor rotation into value stocks. Analysts are warning of a slowdown in sector investment, and according to collected data, these declines signal a significant shift in market sentiment following the recent rally.
Wall Street Tech Stocks Plunge; Gold Prices Rally
The sharp declines on Wall Street continued with a wipeout of approximately $1.8 trillion in market value, causing the liquidation of about $428 million in crypto long positions. As investors flee technology, gold prices surged above $4,100 per ounce due to a flight to safety and reduced expectations for interest rate hikes. This is a direct continuation of yesterday's Tevel updates, which indicated that the turmoil is affecting a variety of investment avenues rather than just specific stocks.
Iran-Russia talks: Iranian official meets Putin in Moscow
Mohsen Rezaee, a senior official of Iran's Supreme National Security Council, met in Moscow with Vladimir Putin to discuss regional security arrangements, against the backdrop of reports that Tehran is considering new proposals regarding its nuclear program. Following earlier Tevel reports on correspondence with the U.S. and tensions on the Turkish border, the Russian Foreign Ministry issued a travel warning for Iran. These developments highlight the complex diplomatic efforts taking place with the Islamic Republic while international security actors continue to monitor the situation closely.
Market meltdown continues: Asian stocks tumble
The market collapse deepened in Asia, as the Nikkei 225 index fell below the 57,000-point threshold, officially entering a bear market. Double-digit declines were recorded in leading tech stocks, including Tokyo Electron and SoftBank, following the sharp losses recorded a day earlier in the U.S. as seen in Tevel reports. A decline of more than 5% was also registered in the Korean Kospi index, illustrating the impact of market globalization and Asia's immediate reaction to the shocks on Wall Street.
Written automatically from the Tevel reports linked in it.