We’re At War With Iran. The Strait of Hormuz is disrupted. Chips rallied 5%. Bitcoin ripped past $73K. And nonfarm payrolls drop Friday.

THE RUNDOWN

WAR › U.S. and Israeli strikes on Iran are now in their fourth day. Iran partially closed the Strait of Hormuz, a chokepoint for roughly 13 million barrels of oil per day. A container ship was struck at the Strait today. Qatar halted LNG production. Saudi Arabia’s biggest refinery went offline after drone attacks. Trump said the Navy will escort tankers “if necessary” and told reporters alongside Germany’s Merz: “Everything’s been knocked out in Iran.” Oil spiked above $77 on Monday, pulled back to $74 on Wednesday after…

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