Both US and European markets ended lower amid rising geopolitical concerns, with US financial markets closed for a public holiday. In Europe, central bank actions drove sentiment: the Swiss National Bank surprised markets by cutting rates to zero, while the Bank of England held steady as Norway’s central bank also delivered a rate cut. Meanwhile, oil prices surged nearly 3% as tensions escalate between Israel and Iran. Back home, Aussie shares are expected to open lower on Friday after a surprise dip in May employment figures.

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