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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.

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.

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.

Q2 2026 Bank Earnings Season Opens Tuesday — JPMorgan Consensus EPS $5.49, Goldman $14.47, Options Markets Price 4-6% Swings

JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs all report Q2 2026 earnings Tuesday before the open, the same morning as the June CPI release. Consensus expects JPMorgan EPS of $5.49 on $48.7 billion in revenue and Goldman EPS of $14.47 on roughly $16 billion — both reflecting year-over-year growth above 10%. Options markets are pricing single-day moves of 4.4% to 6.0%, and the KBW Bank Index is trading near record highs ahead of results.

Semiconductor Stocks Fall Ahead of SK Hynix Debut — Micron Slides 2.3% as Rotation and Sell-the-News Risk Emerge

Chip stocks declined in Friday's early session ahead of SK Hynix's US trading debut, with Micron Technology slipping roughly 2.3% and the VanEck Semiconductor ETF falling modestly from Thursday's 2.5% gain. Analysts attribute the pullback to rotation — investors rebalancing out of existing chip positions to fund SKHYV allocations — alongside heightened sell-the-news risk after SpaceX's June IPO created a similar dynamic. The Nasdaq composite hovered near flat as markets await the new listing's opening print.

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.

SK Hynix $28B Nasdaq ADR Prices Today at $165.26 — Sevenfold Demand Makes It the Second-Largest Foreign Listing in US History

SK Hynix priced its Nasdaq ADR offering on Thursday, targeting approximately $28 billion at roughly $165.26 per ADR, with institutional orders covering more than seven times the shares available. Cornerstone investors including Baillie Gifford, Coatue Management, and Situational Awareness Partners indicated combined interest of up to $7 billion. Interim trading begins Friday under the ticker SKHY, with regular trading starting Monday. The deal is the second-largest US listing by a foreign company, behind only SpaceX's $85.7B IPO last month.

Trump Declares Iran Ceasefire 'Over' After Strait of Hormuz Ship Attacks — Brent Crude Spikes 5.2% to $78

President Trump declared the US-Iran memorandum of understanding 'over' after American forces struck Iran in retaliation for attacks on three commercial vessels in the Strait of Hormuz. Brent crude jumped 5.2% to $78.02, WTI rose 4.9% to $73.89, and the Dow fell more than 500 points. Trump threatened further strikes 'tonight,' while Iran's foreign ministry condemned the US military action as a gross violation of the ceasefire. Energy stocks gained; tech and semis sold off.

Iran's IRGC Fires Missiles at Two Strait of Hormuz Vessels — Brent Crude Rises $0.50 to $72.49 as Peace Deal Durability Questioned

Iran's Islamic Revolutionary Guard Corps reportedly fired missiles at two commercial vessels transiting the Strait of Hormuz, pushing Brent crude 50 cents higher to $72.49 per barrel and raising fresh doubts about the durability of the U.S.-Iran peace framework. A tanker was hit off the coast of Oman, causing a fire with no reported casualties, according to UK Maritime Trade Operations. The incident arrives as both sides are still negotiating a permanent settlement, with US forces expected to assess retaliatory options.