WS #12354

The US-Iran conflict has escalated significantly in the last 30 minutes, with Iran formally withdrawing from its accord with the US, suspending all commitments, and declaring it will never negotiate with Washington. Iran's Supreme Leader called the US president's signature 'worthless & invalid' and accused the US of repeatedly breaching commitments. Iran struck a US military base in Jordan and launched ballistic missiles at the Kuwaiti Academy of Security. Kuwait reported Iranian strikes hit a power/water plant and an oil facility, causing injuries and significant material losses. The GCC chief condemned Iran's attacks on civilian infrastructure as 'war crimes'. The UKMTO reported an incident involving a merchant vessel and military forces ~100NM east of Duqm, Oman. Oil prices are rising sharply (WTI +4.42%, Brent +4.59%) as the Strait of Hormuz remains effectively closed. The AI trade rotation continues: Apple overtook Nvidia to become the world's most valuable company ($4.88T vs $4.86T) as investors broaden AI bets beyond semiconductors. China's Moonshot AI released Kimi K3, a 2.8T parameter open-source model, rattling US chip stocks. IBM lost 26% this week after its historic selloff. Russia claims its forces seized the eastern Ukrainian stronghold of Kostyantynivka in Donetsk Oblast. The narrative arc is ESCALATING for the US-Iran conflict, with Iran's withdrawal from the MOU and attacks on US allies marking a significant deterioration.