The wire this hour is defined by significant governance and geopolitical friction. Domestically, the U.S. Department of Education has reported $225 million in school district fraud since 2019, while Maine Democrats have shifted their U.S. Senate strategy by replacing their nominee with Troy Jackson to challenge Senator Susan Collins. Internationally, the conflict involving Ukraine has intensified, with reports of a strike on an Iranian cargo vessel and significant civilian casualties in a drone strike on a Russian tourist resort. These developments, alongside broader geopolitical and economic headwinds, have contributed to a volatile environment for stocks. Meanwhile, Brazil’s political landscape remains in flux as Flávio Bolsonaro secures a presidential nomination.