WS #11973

The dominant narrative remains the sharp escalation in US-Iran tensions over the Strait of Hormuz, which is now ESCALATING further. President Trump announced the US will reinstate a blockade of the Strait of Hormuz and impose a 20% toll on all cargo transiting the waterway, claiming the US will act as 'guardian' of the strait. This follows three rounds of US strikes hitting over 300 Iranian military targets last week after Iran attacked commercial ships. Oil prices have already jumped 5% on the news, with Brent crude rising 3-4% after fresh US strikes. The 20% toll would add approximately $15 per barrel to oil costs according to Ian Bremmer. Strait of Hormuz confirmed crossings reportedly plunged 52% this weekend as vessels shifted toward 'dark' routes. Iran has formally announced its withdrawal from the Memorandum of Understanding, effectively ending the interim deal and signaling a return to full hostilities. The situation is being closely watched for its impact on global energy markets, shipping, and broader geopolitical risk. In other developments, Trump called on the Senate to pass the Clarity Act crypto bill to honor the late Sen. Lindsey Graham, and urged the appointment of Graham's sister to his Senate seat. SK Hynix had its worst day in 18 years in South Korea trading, dragging down US chip stocks including Micron. Apple acquired SigLens, a developer monitoring tool. SpaceX stock continued to slide, nearing its $135 IPO price. A federal appeals court revived over 500 lawsuits linking Tylenol use during pregnancy to autism, hitting Kenvue stock. Strategy (MSTR) paused its Bitcoin buying spree to build a $3 billion cash cushion. Shein's executive chairman is stepping down as its IPO nears completion.