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Fortune
Fortune
Jim Edwards

Ships go dark as the clock runs out on Trump's ‘undeclared naval war’ in the Strait of Hormuz

Donald Trump the Strait of Hormuz
(Credit: Photo by FADEL SENNA / AFP via Getty Images)

Good morning. On Fortune’s radar today:

  • Trump has an “undeclared naval war ” in the Strait of Hormuz.
  • Oil goes up as the clock ticks down to the midterms.
  • Markets: Mostly down.
  • Chipmakers are vacuuming up hyperscaler cash.
  • Tariff revenue is now close to zero.
  • Is the K-shaped economy coming to an end?
  • Wall Street is paying interns up to $86,000 for just 10 weeks work .

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