WS #5774

Iran tensions escalate sharply with multiple developments in the Strait of Hormuz. Iran has imposed tolls on ships using the strait, and a BBC Verify analysis indicates that a video purporting to show Iranian forces seizing ships appears staged, suggesting information warfare. Iranian air defense systems were activated over Tehran, and a drone attack was reported on an Iranian Kurdish opposition camp in Iraq. The White House is reviewing SEC rules to ease IPO disclosures, which could boost equity markets. Meta confirmed plans to lay off 10% of its workforce (~8,000 jobs), a significant cost-cutting move that could pressure tech sentiment but also signal efficiency focus. Warner Bros. Discovery shareholders approved the $110 billion merger with Paramount, creating a media giant. On the positive side, NextEra Energy hit an all-time high on strong Q1 earnings, and Rothschild & Co upgraded McDonald's to Neutral with a $306 price target. The EU approved a €90 billion loan to Ukraine and new sanctions on Russia, while the Druzhba oil pipeline resumed flows, easing energy supply concerns in Europe. Bitcoin and other cryptocurrencies trade sideways as Iran peace push stalls.