The US stock market is set to open lower on Wednesday as a tech selloff deepens, military tensions with Iran escalate, and investors wait for the latest inflation report.
Nasdaq 100 futures led the drop, falling 1.4% in pre-market trading. S&P 500 futures declined 0.9% and Dow Jones futures fell 0.8%.
The selloff follows Tuesday’s losses, which were driven by profit-taking in AI-related stocks after a long rally.
Investors have been pulling back from high-valued AI stocks. Concerns are also building around the upcoming IPOs of OpenAI and Anthropic, two of the largest private AI companies.
Deutsche Bank analyst Jim Reid described the current mood plainly. “Markets are straddling some fairly extreme scenarios at the moment,” he said. “Not only are we oscillating between deal or no deal with the US and Iran, but markets are also swinging between 1999-style AI exuberance and 2000-type tech crash fears.”
Oracle is set to report earnings after the closing bell on Wednesday. Investors will be watching its cloud business closely, as OpenAI is one of its customers.
The US launched strikes on Iran on Tuesday following the downing of an American Apache helicopter near the Strait of Hormuz. The two countries have been trading military blows overnight.
BREAKING: Iran has 'taken too long to negotiate a deal,' 'will have to pay the price,' Trump writes on Truth Social pic.twitter.com/uP6pBuqDcm
— Fox News (@FoxNews) June 10, 2026
Despite the escalation, oil prices showed little movement. Brent crude climbed 0.2% to $91.60 a barrel and West Texas Intermediate rose 0.1% to $88.30.
Gold fell below $4,200 as Middle East fears circulated through the market.
The US dollar traded flat against a basket of currencies. The 10-year Treasury yield edged up one basis point to 4.53%.
The Bureau of Labor Statistics is releasing May’s Consumer Price Index report at 8:30 a.m. ET. Economists forecast a 4.2% annual rise in prices.
That would be the hottest reading in over three years. A hot number could increase the chance of the Federal Reserve raising interest rates later in 2026.
The report could also reveal how rising energy costs from the Middle East conflict are feeding into consumer prices.
Bitcoin fell 2.4% over the past 24 hours to $61,680, tracking broader risk-off moves across markets.
Looking ahead, SpaceX is expected to go public on Friday. The IPO is widely expected to be the largest in history.
The post Pre-Market Update: Nasdaq Futures Fall as CPI Inflation Data and US-Iran Strikes Hit Markets appeared first on CoinCentral.
