New Delhi, June 10 -- Markets face a key inflection point this week, as tensions in the fragile truce between Washington and Tehran flare and investors prepare for the first of three megacap IPOs that will test investor exuberance for a tech and AI rally that has defined markets for much of the year.

The U.S. and Iran traded fire overnight, amid reprisal attacks linked to the downing of an American Apache helicopter over the Strait of Hormuz, in the biggest skirmishes since a shaky cease-fire was agreed to in mid-April.

President Donald Trump continues to insist a deal remains in reach that will end the war, which has now been going for more than 100 days-but markets are split on the outcome.

Global crude prices are holding near the lo...