Geopolitical friction dominated the hour, highlighted by a broadening conflict involving Iran. Tensions escalated following reported Ukrainian strikes on Iranian vessels in the Caspian Sea and allegations from Tehran that the U.S. attacked rescue boats off the Iranian coast. This regional instability is underscored by disclosures of Senator Lindsey Graham’s private advocacy for war with Iran and a controversial new State Department report on Cuba that critics fear could justify military intervention. Simultaneously, the U.S. administration released declassified documents detailing a massive compromise of voter registration data by Chinese entities. In the economic sector, European firms are maneuvering through regulatory shifts and merger talks, while German industry faces significant employment declines, pointing to a challenging landscape for both national security and global markets.