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The United States has launched a new round of strikes against Iran, targeting military assets, following President Trump's declaration to reinstate a blockade on Iran in the Strait of Hormuz. Trump stated the US aims to control the strategic waterway, leading to increased oil prices and international concern.

Ukraine's air force reported intercepting five Russian ballistic missiles in overnight attacks, marking the first successful downing of such missiles in weeks. Meanwhile, Ukrainian President Volodymyr Zelenskyy was in France, announcing a new anti-ballistic missile coalition with nine European nations to build a shared missile shield.

A federal judge issued a scathing rebuke, ruling that former President Trump and his family acted in bad faith when filing a $10 billion lawsuit against the Internal Revenue Service. The lawsuit had previously led to an agreement with his administration to create an 'anti-weaponization fund' and cease tax audits.

U.S. stock markets showed resilience, with the S&P 500 and Nasdaq Composite edging higher after a report indicated inflation was not as bad as expected. However, the Dow Jones Industrial Average was weighed down by IBM's shares, which plunged over 24% following a profit warning due to customers shifting spending towards AI hardware.

Apple has filed a lawsuit against OpenAI, alleging trade secret violations, marking a significant escalation in the competitive AI landscape. This comes as the burgeoning AI industry faces a severe memory chip shortage, with experts warning of the worst shortage by 2027, impacting product pricing and availability across the tech sector.