High-level U.S. envoys are in Pakistan for potential talks with Iranian officials, though Iran publicly denies any planned direct meetings. The negotiations are indirect, with Pakistan as an intermediary, and focus on ending the ongoing conflict, which is centered on the U.S. naval blockade and control of the Strait of Hormuz.
The Justice Department, under U.S. Attorney Jeanine Pirro, has dropped its investigation into Fed Chair Jerome Powell. This move clears the way for President Trump's nominee, Kevin Warsh, to proceed with confirmation, though some senators are withholding support pending the outcome of a separate Inspector General probe.
The conflict has severely disrupted the flow of oil, LNG, and other critical commodities like helium and fertilizer through the Strait of Hormuz. Expert Dan Yergin notes a divergence between financial markets, which react to diplomatic news, and the physical market, where severe shortages are emerging, particularly in Asia.
Amid geopolitical turmoil, the tech sector continues its rapid expansion. NVIDIA's market cap exceeded $5 trillion, and Google is planning a massive $40 billion investment in AI-competitor Anthropic. This growth is creating unprecedented demand for electricity to power data centers.
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