The defining story of this hour is the sharp escalation in geopolitical instability surrounding Iran, which is directly roiling global energy and equity markets. Renewed ballistic missile strikes between U.S. and Iranian forces, compounded by a reported drone attack on a major Saudi oil hub, have pushed oil prices up by more than 4% on supply disruption fears. This instability is dampening investor sentiment, contributing to declines in U.S. stock futures and broader weakness in the semiconductor and AI technology sectors—where despite strong performance reports from players like SK Hynix, profit misses have fueled a market sell-off. Elsewhere, domestic policy headlines include the Trump administration ending a Medicare drug subsidy, while the geopolitical focus remains on the ongoing standoff between the U.S. and Iran.