WS #8254

The US-Iran military escalation continues to dominate, with new US self-defense strikes near the Strait of Hormuz reported by multiple sources (Al Jazeera, Bloomberg, Independent), confirming the narrative is ESCALATING. This directly counters any peace deal optimism and keeps oil prices elevated. Separately, the EU is planning a high triple-digit million euro fine on Google (GOOGL) under the Digital Markets Act, a significant regulatory development for Big Tech. Trump's statement that Iran's enriched uranium must be handed over or destroyed adds a new condition to negotiations, increasing uncertainty. Elbit Systems (ESLT) secured a $1.4B European contract, a positive defense sector signal. The ECB rate hike signal from the previous window remains unrefuted and is carried forward.