Global markets are facing broad pressure, underscored by a slump in chip stocks and significant redemptions from Bitcoin ETFs, though LVMH’s sales results offer a point of resilience in the luxury sector. Geopolitical volatility remains elevated: Iran continues to trade threats with the U.S. following recent strikes, while Saudi Arabia reports a 40% decline in Red Sea oil loading due to an ongoing blockade. Conversely, India and China are moving to normalize border relations. On the domestic front, administrative shifts are accelerating, with the Department of Homeland Security moving to bypass specific asylum interviews to reduce backlogs, while power grid operators across 17 states have triggered emergency protocols to manage severe heat-related strain.