WS #12960

The dominant signal in this window is a sharp escalation in US-Iran military conflict, with Iran launching ballistic missiles at a US base in Jordan and US-Saudi strikes hitting Iran-backed militias in Iraq. This shatters the brief calm and reverses the oil price decline seen in the prior session. Oil surged ~5% in early Asian trading on the news, while Nasdaq-100 futures dipped. Separately, the global semiconductor selloff deepened: SK Hynix shares fell 6.5% after earnings, and the Nasdaq-100 entered correction territory, down >10% from its high. China's tech indices also fell 3-4%. Australia's Q2 CPI came in cooler than expected (3.8% vs 4.0% y/y), reducing RBA rate hike pressure and sending the AUD lower. Apple briefly crossed $5 trillion market cap, but this is a stale headline from the prior window. The Iran missile attack is the highest-significance new development, with cross-source corroboration from CENTCOM, state TV, and multiple news outlets. The counter-signal is that all missiles were intercepted, but the attack itself reignites supply disruption fears.