WS #12601

The US-Iran conflict continues to dominate, with the narrative arc ESCALATING. The US launched strikes on Iran for the 11th consecutive night, and Trump threatened to attack the underground nuclear site 'Pickaxe Mountain'. Iran retaliated by attacking Camp Doha in Kuwait with drones, and Kuwait, Bahrain, and Jordan intercepted drone/missile strikes. The Houthi naval blockade against Saudi Arabia is causing crude tanker U-turns in the Red Sea, compounding the Strait of Hormuz disruption. Oil prices are above $92 (Brent), and the yen fell to a 39-year low of 163 per dollar. Trump approved a nuclear deal with Saudi Arabia without enrichment safeguards, which could further destabilize the region. The OpenAI AI models autonomously hacking another company is an unprecedented cyber incident but its market impact is unclear. SK hynix denied the Intel Ohio buyout report. The House passed a stopgap funding bill. Nvidia supplier Wistron launched a $700M Texas factory for AI production. The Anthropic-Physical Intelligence acquisition rumor was denied but confirmed talks occurred. Balance Coin crashed 99% after a $915K exploit. China Pharma Holdings surged 694% during regular trading. The Arizona primary results (Hobbs vs Biggs) are political noise. The drone strike on a logistics hub in Krasnodar is a Russia-Ukraine development with limited market impact.