Finance

The Nasdaq Closing Cross achieved a historic milestone on June 26, executing a record 4.59 billion shares worth $334 billion in just over 1.6 seconds. This massive liquidity event was driven by the semi-annual rebalancing of the Russell U.S. Indexes, affecting approximately $10.6 trillion in benchmarked assets. The rebalance reflects recent shifts in market capitalization and sector dominance across the broader U.S. equity market.

Digital assets faced a challenging week, with Bitcoin falling below the $60,000 mark following sustained outflows from spot U.S. Bitcoin ETFs. Recent data showed nearly $1.3 billion in net outflows from these exchange-traded products, contributing to a broader risk-off sentiment in the crypto sector. While Solana showed some resilience with recent gains, both Bitcoin and Ethereum ended the month of June significantly lower than their opening prices.

Energy markets saw relief as crude oil prices retreated toward pre-war levels following reports of a fragile ceasefire and a potential deal to reopen the Strait of Hormuz. West Texas Intermediate futures slipped below $70 per barrel during Friday's regular session, although a fresh U.S. strike in the region later in the day introduced new volatility. The decline in energy costs has helped ease broader inflationary fears, providing some support to non-tech sectors of the economy.