Morning Edition · Wednesday, July 8, 2026
Markets
Iran Strikes US Bases in Bahrain and Kuwait as Trump Declares Truce "Over"; Brent Tops $78
Iran's Revolutionary Guard fired ballistic missiles and drones at US installations in two more Gulf states, and President Trump, at a summit of the North Atlantic Treaty Organization (NATO), declared the June 17 understanding that had paused the war finished and threatened strikes on Iranian energy infrastructure. Brent crude rose above $78 a barrel.
Macro
IMF Cuts 2026 Global Growth to 3% and Lifts Inflation Forecast to 4.7%
The fund assumes energy prices stay about 25% above prewar levels and that the Strait of Hormuz reopens by mid-July, an assumption the latest strikes now put in doubt.
Markets
Wall Street Opens Lower as Chip Stocks Fall and Bond Yields Climb
The central bank's latest minutes, released Wednesday, showed a divided committee, with nearly half of policymakers expecting at least one more interest-rate increase in 2026.
Macro
Tanzania Adds Nearly 28 Tons of Gold to Reserves as Bullion Trades Near $4,100
The central bank's purchases, worth an estimated $3.7 billion over 18 months, extend a shift by non-Western states toward holding gold rather than dollars.
Geopolitics
Trump Criticizes Allies at NATO Summit and Repeats Demand for Greenland
Leaders labeled Russia a "long-term threat" and agreed to strengthen collective defense, even as the US president assailed members for not joining the war on Iran.
Geopolitics
US Will License Ukraine to Produce Patriot Interceptors, Trump Says
The president also raised the possibility of US participation in a no-fly zone over Ukraine and predicted an early meeting between Putin and Zelensky.
World
Millions Mourn Iran's Slain Supreme Leader as Coffin Moves Through Iraq
Hundreds of thousands gathered in Najaf and Karbala, and Iranian sources indicated the succession is centering on Ayatollah Mojtaba Khamenei.
Tech
Xi Tells Scientists to Make China a Leading Science Power by 2035
The Chinese leader tied the goal to the 2026 to 2030 five-year plan as Washington tightens controls on advanced technology.
World
Canadian Police Say No Evidence Links Indian Government to Nijjar Killing
The statement contradicts former Prime Minister Trudeau's earlier allegations that badly strained relations between Ottawa and New Delhi.
Crypto
EU Plans to Revise Crypto Rules in 2027 as Trump Pushes Stablecoins
Brussels wants its Markets in Crypto-Assets framework to cover issuers based outside the EU, while Iran acts against unlicensed mining at home.
World
Fuel and Power Shortages in Crimea Signal Strain in Russia's War Economy
The region's head says he reports regularly to Putin on the situation, as a court orders Anatoly Chubais and former managers to pay 11.9 billion rubles.
Geopolitics
Tensions Rise in DR Congo Over Referendum Critics Call a Third-Term Bid
The opposition accuses President Tshisekedi of using constitutional reform to extend his rule, and has postponed protests after an African Union mediation offer.