Ukraine launches almost 800 drones as Russian missile strike kills 10

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• AI stocks pull Wall Street farther from its record. The S&P 500 fell 0.7% for a third straight loss, the Dow slipped 0.2% and the Nasdaq dropped 1.3%. Micron fell 7%, Nvidia 2.3% and Broadcom 3.2% as investors questioned whether data-center demand and AI profits can justify current valuations. The 10-year Treasury yield eased to 4.70% but remained well above its prewar 3.97%; Brent crude rose to $91.02 from $72.87 before the Iran war. 2
• Hormuz diplomacy still has an operational gap. The U.S. says the strait is “open and operating,” but Kpler data cited by AP showed confirmed crossings fell 19.5% to 95 in the latest week, with only three vessels crossing Sunday and none using the Omani routes. An unidentified projectile damaged a ship’s engine room near Oman and caused a crew casualty, while the U.S. opposes reported plans for joint Iranian-Omani route management and voluntary vessel fees. 3
• South Korea is trying to reassure itself about the U.S. alliance. President Donald Trump ordered a substantial reduction in joint exercises just before the annual Ulchi Freedom Shield drills began, citing his relationship with North Korean leader Kim Jong Un and Seoul’s refusal to join the Iran war. President Lee Jae Myung said a solid alliance underpins national security. The U.S. has about 28,500 troops in South Korea, which relies on the American nuclear umbrella. 4
• Putin deepens ties with Myanmar’s military government. Putin hosted Min Aung Hlaing in Moscow as the two sides discussed security cooperation and economic projects. Their plans include Russian-backed facilities in Myanmar such as a nuclear power plant, seaport and oil refineries; Russia and China are also major arms suppliers. The visit gives Myanmar’s junta another diplomatic partner despite Western sanctions and its continuing civil war. 5
• Washington and Ottawa are racing to avoid a new tariff shock. The two governments held last-minute talks before a Wednesday deadline for threatened U.S. tariffs of 50% on $20 billion of Canadian products, including items such as hockey sticks and tongue depressors. Prime Minister Mark Carney and Trump spoke twice by phone in two days. The dispute is unusually damaging for two countries whose undefended border handles nearly 330,000 people and about $2 billion in goods each day. 6
• Brazil is defending oil exploration near the Amazon mouth. Petrobras detected hydrocarbons during exploratory drilling about 180 kilometers off Amapá state. President Luiz Inácio Lula da Silva called the prospect a “passport to the country’s future,” while environmental and Indigenous groups argue that licensing did not properly assess consultation, spill risks or climate impacts. The find is not yet a commercial discovery: Petrobras says further research is needed, and one energy expert said viability could take up to a decade to establish. 7
• Congo’s Ebola outbreak has become its deadliest on record. Government data cited by AP put the total at 4,945 cases and 2,325 deaths, including 101 new cases and 33 deaths in the preceding 24 hours. The outbreak is driven by the Bundibugyo virus, for which there are no approved vaccines or treatments; medical teams face poor roads, unpaid-worker strikes, rebel threats and misinformation. The World Health Organization says the outbreak is moving at an exceptional pace. 8
• A temple stampede and hotel fire killed 14 in eastern India. Seven people died near Ashok Dham Temple in Bihar after a snapped electrical wire sparked panic and a barricade collapsed, according to local officials cited by AP. Hours earlier, a hotel fire in West Bengal killed at least seven people and left others critically injured. Both incidents occurred as pilgrims gathered for Shravan observances; authorities were investigating the causes. 9
• The UAE reported a renewed missile incident while Gaza strikes continued. The United Arab Emirates said two ballistic missiles were launched from Iran toward the UAE: one fell outside its waters and one inside, with no reported damage or injuries. Iran later denied launching them. In a separate development the same day, an Israeli strike in Gaza City killed six people, including a child, according to Shifa Hospital; Israel said it targeted Hamas commanders. 3

Quote of the day

“National security will be further strengthened when the alliance is solid.”

— South Korean President Lee Jae Myung, speaking after the U.S. ordered a substantial reduction in joint military exercises. 4

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