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Rising Tensions in the Gulf as Iran Strikes and Trump Rebukes Allies

  An aerial view of the island of Qeshm, separated from the Iranian mainland by the Clarence Strait. Iran has launched a new wave of attacks on U.S. Gulf allies, escalating an already volatile regional conflict. On Tuesday, Iranian forces targeted the United Arab Emirates in what officials described as retaliatory strikes amid the ongoing U.S.-Israeli war with Iran. President Donald Trump publicly criticized Gulf allies for what he called a lack of gratitude and cooperation during a tense naval standoff in the Strait of Hormuz.  Escalating Conflict The conflict, now in its third week, has seen Iran expand its attacks beyond expected targets, striking both the UAE and Israel. U.S. officials revealed that Trump had been warned such retaliation was likely, despite his claims of being caught off guard.  Strategic and Economic Fallout The Strait of Hormuz remains largely closed, with U.S. allies refusing Trump’s requests to help reopen the critical waterway. This blo...
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U.S. stocks retreat from record highs ahead of jobs data


U.S. stocks ended lower on Monday, pulling back from record highs reached last week. The S&P 500 fell 0.5%, the Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite dropped 0.8%.

Investors were cautious ahead of some key reports this week on the U.S. economy, especially the jobs market The reports could provide more clues on the Federal Reserve’s stance on interest rates and inflation.

Technology and communication services stocks were among the biggest losers on Monday. Microsoft, Nvidia, Meta Platforms, and Netflix all declined more than 1.5%. Alaska Air Group plunged 14.2% after announcing a deal to buy Hawaiian Airlines.

Markets in Europe and Asia closed mixed on Monday. U.S. crude oil prices fell 1.4%, easing some inflationary pressure.

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