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U.S. Officials Say Iran’s New Supreme Leader Gravely Wounded Amid Escalating Conflict

Protesters hold posters of Iran's late Supreme Leader Ayatollah Ali Khamenei and his son, Iran's new Supreme Leader Mojtaba Khamenei, during a protest marking al-Quds Day (Jerusalem Day), after Friday prayers at Fatih Mosque in Istanbul. U.S. Defense Secretary Pete Hegseth has confirmed that Iran’s newly appointed Supreme Leader, Mojtaba Khamenei , was seriously wounded and likely disfigured during the opening phase of U.S. and Israeli military strikes. Speaking at a Pentagon briefing, Hegseth described Iran’s leadership as “desperate and hiding,” asserting that Khamenei has gone underground following injuries sustained in the attacks.  Reports from multiple outlets indicate that Khamenei has not appeared publicly since the conflict began, fueling speculation about the severity of his condition. Some accounts suggest he may have suffered catastrophic injuries, including the loss of a limb and a possible coma, after an airstrike that also killed members of his family.  U.S....
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Wall Street Hits Record High as Powell Signals Possible September Rate Cut

U.S. stocks surged Friday, with the Dow Jones Industrial Average jumping more than 800 points to close at a record high, after Federal Reserve Chair Jerome Powell hinted that interest rate cuts could be on the horizon.

Speaking at the annual Jackson Hole economic symposium, Powell acknowledged that “downside risks to employment are rising” and that the Fed’s policy stance may need adjusting if labor market weakness persists. His remarks fueled investor optimism for a potential quarter-point rate cut as early as the Fed’s September meeting, with market odds of such a move climbing above 90%.

The rally was broad-based, lifting the S&P 500 and Nasdaq by more than 1.5% each. Bond yields fell sharply as traders snapped up Treasuries ahead of a possible easing cycle, while major tech stocks and economically sensitive sectors like homebuilders and travel companies posted strong gains.

Powell emphasized that any policy shift would be data-driven, balancing the need to support employment against lingering inflation pressures from tariffs. Investors, however, took his dovish tone as a green light for further market momentum into year-end.

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