WS #9200

The dominant narrative in this window is the ongoing US-Israel war with Iran, now on its 100th day, with fresh military escalation. The US has shot down two Iranian drones over the Strait of Hormuz, and Iran has retaliated with ballistic missiles toward Bahrain and Kuwait, most of which were intercepted. This marks a significant escalation after a period of relative calm. Additionally, Iran has begun charging ships $1.5-2 million per transit through the Strait of Hormuz, with payments accepted in cash, goods, services, or crypto (Tether). This directly impacts global oil supply chains and shipping costs. However, a counter-signal emerges: reports indicate Iran has slashed transit fees to $100k-$160k per ship, suggesting potential easing of tensions. Separately, a terrorist attack in central Israel has left one dead and several wounded, adding to regional instability. On the tech front, Nvidia CEO Jensen Huang hinted at announcements tomorrow, which could move NVDA. The Anthropic CEO warned of AI-driven GDP growth alongside high unemployment, a macro concern for tech valuations. Bitcoin is trading around $62,500, down from recent highs, with Polymarket bets showing bearish sentiment. The overall narrative is one of geopolitical escalation with a potential counter-signal on Hormuz fees, and tech sector undercurrents from Nvidia and AI commentary.