By Samuel Indyk and Tom Westbrook<\/p>\n
LONDON, June 8 (Reuters) – Global stocks were mixed on Monday as the tech rout rippled through Asia while signs of an easing of tensions between Iran and Israel supported European stocks and U.S. futures rebounded following Friday’s selloff.<\/p>\n
Renewed air strikes \u200cin the Middle East had pushed up oil prices and weighed on European stocks in early trading. But Tehran said it had ended its \u200cmilitary operation against Israel, calming investors’ worries that a flurry of weekend attacks threatened efforts to broker a peace deal to end the Iran war.<\/p>\n
Brent crude futures, which had been up about 5% \u200bin the European morning, were now up 1.5%.<\/p>\n
Europe’s STOXX 600 was little changed. Major bourses in Frankfurt, Paris and London were down 0.4% to up 0.1%, but had all been sharply lower in early trade.<\/p>\n
Europe’s relative lack of a technology hardware sector and greater exposure to energy prices have meant its major markets have largely taken a back seat in the rally that has gripped Wall Street, Tokyo and Seoul, but it also makes the region more insulated than other markets to a sharp selloff \u200cin the tech space.<\/p>\n
The twin triggers for the recent tech \u2060rout were last week’s disappointing outlook at chipmaker Broadcom and a surprisingly strong U.S. jobs report on Friday that has traders pricing in a rate hike from the Federal Reserve this year.<\/p>\n
“The market has gone a long way without a correction,” said \u2060Lars Skovgaard, senior investment strategist at Danske Bank. “The big surprise is not that we had a selloff, but that we didn’t have it before.”<\/p>\n
In Asia, the decline in equity markets was stark. South Korea’s chip-heavy KOSPI, the world’s best-performing market this year, led losses with an 8.3% slide that has the benchmark down over 16% from last week’s record \u200bhigh.<\/p>\n
Japan’s Nikkei \u200bfell almost 4% with market darlings across the computer-chip production supply chain falling furthest, while \u200bTaiwan’s benchmark sank 3.5%.<\/p>\n
Nasdaq futures were up 1.2%, showing signs \u200cof recovery following a sharp selloff on Friday when the index dropped 4.2%. S&P 500 futures were up 0.6%.<\/p>\n
“I see this as a healthy correction, and I’m not that worried,” Danske Bank’s Skovgaard said. “Remember, the reason for yields to move higher was due to a very strong labour market, and that’s good for the U.S. economy.”<\/p>\n
In bonds, the 2-year Treasury yield rose more than 11 basis points on Friday after the robust jobs report had markets betting that the Fed will hike rates this year. It was down about 1.5 bps on Monday to 4.149%. The benchmark 10-year yield was little changed on Monday at 4.538%, after rising 6 \u200cbps on Friday.<\/p>\n
INFLATION AND ECB AHEAD<\/p>\n
The week ahead is headlined by the giant SpaceX listing, \u200bexpected to price on Thursday and trade on Friday, but inflation will also be in focus \u200bwith U.S. consumer price data due on Wednesday and central bank meetings \u200bin Canada and Europe.<\/p>\n