WS #12965

The dominant narrative is a sharp escalation in US-Iran hostilities, with the US intercepting an Iranian missile attack on bases in Jordan, puncturing a brief calm. This is corroborated by Bloomberg, AP, and multiple social media sources. Iran also claims to have struck three oil tankers in the Strait of Hormuz. Oil prices spiked in early Asian trade on this news, erasing part of Tuesday's selloff, with Brent crude climbing to $87.95. Separately, the Asian tech selloff deepened: South Korea's KOSPI fell 8%, triggering a trading halt, driven by SK Hynix's disappointing Q2 results (revenue miss, shares down 12%) and broader AI jitters. The US Senate advanced a Russia sanctions bill (86-12 vote), which Ukraine's Zelenskyy hailed as a step toward peace, but this is a secondary development. The Fed decision looms, with markets pricing in a one-third chance of a hike, but the Iran escalation dominates near-term risk appetite. The narrative is ESCALATING on the geopolitical front, while the tech rout is STABLE but severe.