WS #7448

The dominant narrative remains the Iran conflict, with a new escalation signal: multiple sources (NYT, CNN, Bluesky) report that the US and Israel may resume strikes on Iran as early as next week. This is an escalation of the prior stable narrative. Separately, Arm Holdings faces a US antitrust probe over chip licensing, corroborated by Bloomberg and multiple Bluesky posts, which is bearish for ARM and potentially for the broader semiconductor sector. The Supreme Court rejected Virginia Democrats' redistricting effort, a political development with limited direct market impact. Berkshire Hathaway's $8B Chevron sale (carried forward from prior window) remains a high-significance item. No counter-signals to the Iran escalation were detected. The narrative arc for Iran is now ESCALATING.