WS #12262

The US-Iran conflict continues to escalate, with the Guardian and multiple Bluesky sources reporting that US strikes on Iran have killed 38 and wounded over 400, including strikes on bridges in Hormozgan province bordering the Strait of Hormuz. The US has boarded a tanker in the Gulf of Oman as part of a renewed blockade, and Iran has launched drone strikes on Kurdish opposition groups in Iraq. This escalation is corroborated by BBC reporting a man charged with assisting Iran's intelligence service, and OilPrice.com reporting Iran instructing Houthis to prepare Red Sea shipping attacks. The Strait of Hormuz disruption is deepening, with a Bluesky post claiming the strait is closed, cutting off 20% of global energy transit. Separately, the global tech selloff continues: SoftBank tumbled 11% in Tokyo on AI infrastructure spending concerns, and Asian shares are sinking on tech selloff (Investing.com). A Bluesky post notes that Chris Hohn's TCI slashed its Microsoft stake from 10% to 1% of portfolio in Q1 2026, adding to negative sentiment on MSFT. On the positive side, Bitcoin ETFs added $368M in a three-day buying streak (Cointelegraph), and a massive $28M ether long straddle bet was placed, betting on sharp volatility (CoinDesk). The narrative arc for US-Iran is ESCALATING, for tech selloff is STABLE but deepening.