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Trump Reinstates Strait of Hormuz Blockade; Proposes 20% Transit Fee on All Cargo — Brent Crude Jumps 9.5% to $83

President Trump announced the United States will reinstate a naval blockade on Iranian ports and impose a 20% fee on all non-Iranian cargo transiting the Strait of Hormuz, effective Tuesday at 4 p.m. ET. Brent crude jumped 9.5% to above $83 per barrel, its biggest single-day gain since May 2020, while WTI settled near $78. The move follows a third consecutive night of US strikes on Iran and effectively ends the ceasefire agreement signed in mid-June.

AppLovin Drops 12.7% to $448 — BofA E-Commerce Pixel Slowdown Data and AI Trade Risk-Off Compound Insider Selling Overhang

AppLovin shares fell 12.7% to close at $447.93 on Monday, the worst performer in the S&P 500, as a Bank of America analysis found the company's e-commerce pixel installations slowed to roughly 750 new additions in June from 950 in May. The decline was compounded by a broad AI trade risk-off triggered by the Hormuz blockade escalation and persistent concern over CEO Adam Foroughi's approximately $51 million in June share sales. AppLovin reports Q2 earnings on August 5, guiding for $1.93 billion in revenue.

SK Hynix Falls 15.4% in Record Seoul Plunge — KOSPI Triggers 7th Circuit Breaker of 2026 as AI Memory Unwind Spreads to US Premarket

SK Hynix shares fell 15.4% in Seoul — their worst single-session decline on record — dragging the KOSPI down 8.95% and triggering a 20-minute market-wide circuit breaker, the seventh of 2026. The rout came just one day after SK Hynix's $26.5 billion US ADR debut, as arbitrage selling, a downgraded Q2 profit forecast from Korea Investment & Securities, and renewed US-Iran tensions converged. Micron Technology and the VanEck Semiconductor ETF are both lower in US premarket trading.

TSMC June Revenue Climbs 67.9% to $14.6B — Q2 Total of $39.6B Tops High-End Guidance Ahead of July 16 Earnings

TSMC reported June 2026 revenue of NT$442.68 billion, or $14.6 billion, up 67.9% year-over-year and 6.2% from May, bringing second-quarter total revenue to roughly $39.6 billion — ahead of its own high-end guidance of $40.2 billion when measured on a Bloomberg calculation basis. The figures confirm robust AI chip demand and set a strong tone ahead of full Q2 earnings on July 16, when investors will watch for any raise to TSMC's full-year outlook and CoWoS capacity commentary.

Brent Crude Rises 4% to $78.82 — US-Iran Weekend Airstrikes Reopen Strait of Hormuz Dispute and Shatter June Peace Deal

Brent crude rose more than 4% to touch $78.82 a barrel after US and Iranian forces exchanged strikes over the weekend, with Iran declaring the Strait of Hormuz closed and US Central Command asserting it remains open. The renewed conflict has all but shattered the June memorandum of understanding, with just six vessels tracked crossing the strait in a 12-hour window versus a pre-crisis baseline of 18 to 22 daily crossings. Energy stocks and airline equities face sharply divergent outlooks as oil risk premium rebuilds.

SK Hynix Raises $26.5B in Largest-Ever US Foreign IPO at $149 — 7x Oversubscribed Debut Tests AI Memory Bull Case

SK Hynix priced its US IPO at $149 per American depositary receipt, raising $26.5 billion in the largest-ever US listing by a foreign company, surpassing Alibaba's 2014 record. The offering was more than seven times oversubscribed. Trading begins today on Nasdaq under the temporary ticker SKHYV before converting to SKHY on July 13. SK Hynix holds 56.4% of the global high-bandwidth memory market and is a primary HBM supplier to Nvidia, with first-quarter 2026 revenue of $34.9 billion beating estimates by 4%.

Meta Platforms Launches Muse Spark 1.1 AI Model and Plans September 'Iris' Chip Production — Stock Up 8.3% This Week

Meta Platforms released Muse Spark 1.1, its most capable AI model for coding and agentic tasks, alongside plans to begin manufacturing its in-house 'Iris' data center chip in September, targeting 14 gigawatts of compute by 2027. The combined announcements pushed Meta shares up roughly 4.7% Thursday and 1% in Friday premarket, cutting the stock's 2026 year-to-date loss from 14.5% to 4.2%. ARK Invest added shares after the release, while analysts project monetization gains through API pricing and advertising share.

Delta Air Lines Q2 2026 Adjusted EPS Beats at $1.56 vs. $1.48 Estimate — Record Fuel Bill of $3.93/Gallon Absorbs 25% Profit Drop

Delta Air Lines reported Q2 2026 adjusted earnings of $1.56 per share on adjusted revenue of $17.7 billion, beating Wall Street estimates of $1.48 EPS and $17.53 billion in revenue. Net income fell 25% year-over-year to $1.6 billion as fuel costs hit $3.93 per gallon — up 75% and the highest quarterly fuel expense in Delta's history. The carrier reaffirmed full-year adjusted EPS guidance of $6.50–$7.50 and guided Q3 for mid-teens revenue growth with $2.00–$2.50 adjusted EPS.

US-Iran War Reignites: 90 CENTCOM Strikes After Ceasefire Collapses — Oil Climbs 4.4% to $73.52 as Hormuz Risk Returns

US Central Command struck 90 Iranian military targets overnight after President Trump declared the fragile ceasefire "over" following Iranian attacks on three commercial vessels in the Strait of Hormuz. Iran retaliated by targeting Bahrain, Kuwait, and Qatar, and the US revoked its waiver on Iranian oil sales sanctions. WTI crude rose 4.4% to $73.52, Brent climbed 5.4% to $78.19. Dow futures fell 0.1% while Nasdaq-100 futures rose 0.7% as AI names decoupled from the geopolitical shock.