Tech Stocks Surge Amid Trump's Iran Strike Cancellation
US stocks rebounded sharply on June 11, 2026, after President Donald Trump canceled planned military strikes against Iran, signaling a possible peace deal. The Nasdaq Composite rose 2.54% to 25,809.66, led by chipmakers, as WTI crude fell below $90 a barrel and US Treasury yields dropped.
Key points
- President Donald Trump canceled planned military strikes against Iran, citing approved discussions for a peace deal.
- The Nasdaq Composite rose 2.54% to 25,809.66, its largest gain since March, driven by chipmakers.
- WTI crude fell below $90 a barrel and US Treasury yields dropped, easing pressures on equities.
- The reversal ended a two-day selloff and handed the major indexes their biggest daily gains in two months.
- Chip stocks led the rebound, with the PHLX Semiconductor Index rising significantly.
The sudden shift in market sentiment on June 11, 2026, was triggered by President Donald Trump's announcement to cancel planned military strikes against Iran. This move, coupled with the possibility of a peace deal, sent shockwaves through the global markets, causing a sharp rebound in US stocks.
The Nasdaq Composite led the charge, rising 2.54% to 25,809.66, its largest gain since March. The tech-heavy index was driven by chipmakers, which have been at the center of the AI trade. The PHLX Semiconductor Index saw significant gains, indicating the sector's resilience in the face of geopolitical uncertainty.
The reversal of fortunes in the market was also reflected in the prices of crude oil and US Treasury yields. WTI crude fell below $90 a barrel, easing one of the pressures that had weighed on equities in the prior two sessions. US Treasury yields also dropped, further contributing to the market's positive sentiment.
The cancellation of military strikes against Iran and the possibility of a peace deal have significant implications for the global economy. The reopening of shipping traffic through the Strait of Hormuz, a chokepoint for a large share of the world's seaborne oil, could have a positive impact on global trade and economic growth.
As the situation continues to unfold, investors and analysts will be closely watching the developments in the Iran-US conflict and their impact on the global markets.
Sources
The WireByte editorial team synthesises technology news from multiple primary sources, verifies the facts, and links every source. Articles are produced with AI assistance and reviewed under our editorial policy.