WS #12247

The US-Iran conflict continues to escalate with new airstrikes and drone attacks reported in the last 30 minutes. US strikes hit Iranian bridges, railway stations, telecom towers, and airports, killing at least 3 civilians. Iranian drones targeted US aircraft in Bahrain, and Kuwait's air defense is responding to hostile missile and drone threats. The Houthis warn of closing the Bab al-Mandab Strait, which would further disrupt global oil trade. Oil prices remain elevated around $85/barrel. Separately, the FDA approved Merck's first-in-class oral PCSK9 inhibitor (Lipfendra) for cholesterol, a potential blockbuster that could pressure Amgen's injectable PCSK9 franchise. SpaceX aborted its Starship V3 test flight, sending shares below IPO price for the first time. The dominant narrative is ESCALATING: US-Iran conflict widening, oil supply disruption persisting, and tech selloff accelerating. No counter-signals detected.