WS #9496

The US-Iran conflict continues to escalate, with Trump threatening new strikes and Iran claiming maximum operational readiness. A key counter-signal emerged: Energy Secretary Wright admitted a prior claim about the Navy escorting an oil tanker was false and said he was 'unaware' of the US taking out Iranian oil, opening an administration split that dampens the bullish oil narrative. Separately, SMCI is getting crushed -25% on plans to raise $7B for AI demand, triggering dilution fears. TSMC reported strong May revenue (+30.1% YoY), a positive for semiconductors. The tech selloff is in full force with NVDA/AMD/AVGO/MU down 3-4.8%, TSLA -3.7%, AMZN/META -2.1-2.5%, while energy and staples hold green. Oracle won a US government contract for a cloud-based HR platform. The US-Iran narrative is ESCALATING, but the administration split is a notable counter-signal.