Global markets suffered huge falls on Friday 5 June 2026, with equities, cryptocurrencies, precious metals and commodity indices all caught up in the turmoil.
Global markets suffered huge falls on Friday 5 June 2026, with equities, cryptocurrencies, precious metals and commodity indices all caught up in the turmoil.
The S&P 500, which had rallied almost exactly 20% from late March through to the start of June, was off by more than 2.5%, while the NASDAQ gave up over 4%, with some investors and analysts beginning to worry the market is at risk of repeating what we saw in the late 1990s and early 2000s: an epic tech-led rally with markets spiking to over 40 times cyclically adjusted earnings, followed by a huge crash and multi-year stock market hangover.
Bitcoin (BTC) and the broader cryptocurrency market fared no better, falling toward USD $60,000 per coin. Now down 30% YTD, BTC is once again facing the existential question that rears its ugly head in crypto bear markets: what does it really do? That uncertainty is not helped this time by the fact that Strategy (NASDAQ: MSTR)—the company that championed the cause of holding BTC as a Treasury asset—has seemingly been forced to divest a portion of their holdings, while their remaining stockpile is now underwater to the tune of about USD $10 billion.
Even gold was not immune. It sold off by over 3% on Friday, ending the first week of June trading just above USD $4,300 per troy ounce (oz), in line with its current position (10.30am AEDT on Thursday, 9 June). Silver was hit even harder, falling by 8% to USD $67.71, with the metal having now fallen by just over 40% from the high seen at the end of January 2026.
The sharp pullback in both precious metals is part of a now four-month correction that has confounded many market participants, who thought the conflict in Iran would be gold-positive, in that it would see the precious metal market continue to head higher.
Instead we have seen a significant correction, a decline in open interest on commodity futures exchanges, a return to ETF outflows, a slowdown in physical demand, and a total reset of investor sentiment—with exuberance replaced by disinterest and apathy.
This correction has now also seen gold fall back below its 200-day (200 DMA) moving average for the first time since 2023, with the 200 DMA sitting at USD $4,426 per troy ounce (oz) at the end of May.
Perhaps this is the buying opportunity we have all been waiting for.
Call 1-888-300-8809 with any questions.
