U.S. markets enter Thursday, June 11, 2026, with conditions set by the Wednesday, June 10 close. Stocks moved lower.Technology led the decline. Treasury yields stayed elevated. The dollar slipped slightly. Oil prices jumped as U.S.-Iran tensions returned to the center of the market backdrop. Gold sold off hard.

The S&P 500 closed at 7,266.99.
The Nasdaq closed at 25,169.50.
The Dow closed at 49,918.78.
The Russell 2000 closed at 2,835.46.

The surface weakened. The internal structure narrowed again, with large-cap technology carrying the clearest pressure.

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Wednesday’s session showed broad weakness across major indexes.

The Russell 2000 fell -1.1%.
The S&P 500 fell -1.6%.
The Dow dropped -1.9%.
The Nasdaq fell -2.0%.

That ranked the major indexes from strongest to weakest as: Russell 2000, S&P 500, Dow, Nasdaq.

The S&P 500 lost 119.66 points.
The Nasdaq lost 509.32 points.
The Dow lost 953.33 points.
The Russell 2000 lost 31.56 points.

The Nasdaq had the weakest finish among the major benchmarks. AI-linked and technology shares remained under pressure after recent record-level strength. The Dow closed below 50,000 after the 953-point decline. The S&P 500 posted back-to-back losses for the first time in three weeks. Small caps also fell, but held up better than the major large-cap indexes. That kept the Russell 2000 first in the daily ranking, even though it still closed lower.

The session showed a clear risk-off tone. Technology weakness, higher oil, and geopolitical pressure all weighed on the tape.

Treasury yields were little changed to slightly firmer through the session.

The 10-year yield moved near 4.53%.
The 2-year yield held near 4.13%.
The 30-year yield moved near 5.00%.

The move was not a major rate shock. The level remained the issue.

The 10-year stayed in the mid-4% range.
The 30-year stayed near 5%.

That keeps borrowing costs elevated. It also keeps long-duration assets sensitive to inflation and energy pressure. The bond market did not give equities much relief. Rates stayed high enough to keep financial conditions tight.

The dollar slipped slightly after the CPI report. The U.S. Dollar Index moved near 99.88. The dollar did not break sharply lower. It stayed close to the 100 level. The move showed stable dollar conditions rather than a major liquidity shift. The level remains a key reference point for commodities, global markets, and foreign earnings translation.

Commodity markets moved higher in oil and lower in gold.

WTI crude settled at $90.03.
Brent crude settled at $93.10.
Spot gold fell near $4,111.95.
Gold futures settled near $4,108.20.
Oil prices rose nearly $2 as geopolitical pressure returned.
WTI gained $1.83.
Brent gained $1.65.
The move brought WTI back above $90.
Brent moved back above $93.

Gold moved sharply lower. Spot gold fell more than 3%. Gold futures dropped 3.6%. The commodity backdrop became more inflation-sensitive again. Oil rose, while gold weakened as rate concerns stayed in place.

Wednesday’s key macro number was CPI.

Headline CPI rose 0.5% in May.
Headline CPI rose 4.2% from a year earlier.
Core CPI rose 2.9% from a year earlier.

The inflation data matched the broader market focus on energy. Energy prices remained the pressure point. The market reaction was not calm at the index level. Stocks fell. Oil rose. Gold sold off. The dollar slipped slightly. Yields stayed elevated. The key shift was that lower oil from Tuesday did not hold. Energy pressure returned one day later. That made Wednesday a tighter session than Tuesday. Equities weakened while oil moved higher and rates stayed firm.

Key reference levels:

Markets enter Thursday after a broad Wednesday pullback. The Nasdaq fell the most. The Dow dropped below 50,000. The S&P 500 posted a second straight loss. Small caps held up best among the major indexes, but still closed lower. Oil prices rose. Gold fell sharply. Yields stayed elevated.

The key backdrop: technology pressure remained the main equity drag, while oil moved back above $90 and CPI stayed at 4.2%. The market enters Thursday with weaker index momentum, firm rates, and renewed energy pressure.