Global markets and geopolitical tensions dominated the hour, highlighted by a sharp decline in U.S. equities, including a nearly 500-point drop in the Dow Jones Industrial Average, as Treasury intervention plans failed to curb bond yields and major retailers like Walmart reported sluggish performance. Despite this broader market malaise, cryptocurrency stocks surged following a White House meeting reaffirming support for the Clarity Act, while Treasury Secretary Scott Bessent suggested potential shifts in Treasury intervention strategies. Simultaneously, conflict narratives intensified: the Pentagon reported over 750 U.S. troops wounded in the ongoing war with Iran, as Secretary Bessent indicated an administration goal to "collapse" the regime through economic pressure, a move that helped push oil prices to a three-week high. Elsewhere, the war in Ukraine escalated with a large-scale Russian strike on Kyiv causing mass casualties and Russia vowing a "proportionate response" to Ukrainian aggression. Domestic government activity remained contentious, as technology companies faced scrutiny over user data, with reports surfacing that firms like Meta have privately challenged or resisted ICE subpoenas; meanwhile, a Missouri court upheld a Republican-backed congressional map, and federal investigators seized electronic devices from former Representative Eric Swalwell as part of a sexual misconduct probe.