<p>The conflict between the U.S. and Iran continues to escalate, leading to a rise in oil prices and a significant drop in U.S. stocks, with all three major indices falling over 1.5%. Adobe plummeted 7% after its earnings report, and the CEO will resign; precious metals retreated, with gold and silver down 2%, as the surge in oil prices dampens expectations for interest rate cuts. Traders are currently pricing in a reduction of less than 25 basis points by 2026</p>

- The ongoing conflict between the U.S. and Iran has contributed to rising Brent crude oil prices, surpassing $100 for the first time since August 2022.  
- The U.S. stock market saw significant declines, with the S&P 500 dropping 1.5%, while private credit markets faced redemption pressures, forcing firms like Morgan Stanley to limit fund withdrawals.  
- Global trade tensions are escalating, as the U.S. plans to investigate 16 trade partners, including China and the EU, for potential unfair trade practices.

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