⚡ Today in History

On this day in 2012, Neil Armstrong, the first person to walk on the moon, died at age 82. In 2018, Senator John McCain, a political maverick who served in Congress for 35 years, died at 81. Today? The Supreme Court and Congress are fighting over the rules of the 2026 midterms. That's the kind of institutional battle McCain spent his career navigating.

Top News

Bessent unveils "economic D-Day" sanctions on Iran 6 MONTHS

Iran's economy has been strained for six months by a US naval blockade and a stalled ceasefire. On Monday, Treasury Secretary Scott Bessent unveiled a new wave of sanctions at a Washington press conference. The measures target shipping, oil, gold, crypto and aviation networks tied to Tehran. Trump is personally calling foreign leaders to demand they cut ties with Iran. Bessent said a major bank will face sanctions within the week.

Supreme Court hands Trump a midterms win 6-3

Republicans and Democrats are fighting over election rules months before the 2026 midterms. The Supreme Court on Monday lifted a lower court order blocking part of Trump's mail-voting executive order. The 6-3 ruling, split along ideological lines, lets the Department of Homeland Security compile a federal citizenship list. The ruling also allows the Postal Service to set new design rules for mail ballots. A separate injunction still blocks the plan's most disputed piece: verifying every mail voter against that list.

Iran's currency hits a record low 2,000,000+

Bessent's new sanctions land as Iran's currency is already in freefall. The rial traded at more than 2 million to the dollar on the open market Monday. That marks a record low, according to currency-tracking sites. Iran's Persian Gulf Strait Authority warned it may seize ships that break transit rules in the Strait of Hormuz. Before the war, that waterway carried roughly one-fifth of the world's seaborne oil.

Russia hits Ukraine with 143 drones on Independence Day 8 KILLED

Russia has kept up near-nightly strikes on Ukraine's cities and energy grid since its 2022 invasion. Overnight on August 24, Russian forces launched two Oniks anti-ship missiles and eight guided air missiles, Ukraine's Air Force said. Russian forces also fired 143 drones and other aerial targets at sites across the country. The barrage hit as Ukraine marked its Independence Day, and officials say it killed eight people and injured 43 others.

Six months on, Navy families in Bahrain still wait 1,000+

When the US-Iran war began in February, the Navy ordered more than 1,000 dependents of personnel in Bahrain to evacuate. Six months later, those families are still living in temporary housing and want a clear timeline home. The Navy has not announced when normal operations at its Bahrain base will resume. Their wait shows how far the war's disruption reaches beyond the battlefield.

World

Oman's top diplomat heads to Iran for Hormuz talks TUESDAY

Tensions over the Strait of Hormuz have simmered for months as tankers face attacks and seizure threats. Oman's foreign minister plans to travel to Iran on Tuesday for talks aimed at easing the standoff. The visit comes as Iran threatens to seize vessels that violate its transit rules through the strait. A breakthrough could ease the shipping disruptions that have kept oil prices elevated since the war began.

UN says 36 aid workers killed in South Sudan this year

South Sudan's civil conflict has made humanitarian work increasingly dangerous. The United Nations reported this week that 36 humanitarian workers and contractors have been killed there since January. That toll already exceeds the 31 workers killed in all of last year. The rising death count is forcing aid groups to reassess how they operate in the country.

Amazon deforestation falls to its lowest level on record

Brazil has spent years working to slow the destruction of the Amazon rainforest. The country's National Institute for Space Research reported that deforestation fell to 2,874 square kilometers between August 2025 and July 2026. That is a 37% annual decline and the lowest level since satellite monitoring began in 2016. Conservationists point to stronger enforcement as a key factor behind the drop.

Kremlin open to new Ukraine plans, but only on its terms

Ceasefire talks over Ukraine have stalled repeatedly since the war began in 2022. A senior Russian diplomat said Moscow is willing to consider new proposals to end the war, as long as they match President Vladimir Putin's demands. Putin has previously insisted Ukraine hand over the Donbas region and abandon its bid to join NATO. Ukrainian President Volodymyr Zelensky said Thursday his team is weighing its next diplomatic move.

Italy issues heat alerts for a record 25 cities

Southern Europe has faced repeated heat waves this summer. Italy's health ministry issued red alerts for 25 cities this week, a record for the country. It marks the fourth major heat wave of the season. Officials are urging residents, especially the elderly, to limit outdoor activity during peak afternoon hours.

Politics

Sotomayor warns ruling leaves midterms question open 6-3

The Supreme Court's mail-voting ruling split 6-3 along ideological lines Monday. Justice Ketanji Brown Jackson dissented, warning the decision creates what she called a "Kafkaesque nightmare" for the coming midterms. Justice Sonia Sotomayor, joined by Justice Elena Kagan, wrote a separate dissent. Sotomayor said the ruling does not settle whether Trump's election actions are lawful.

Trump vows to kill mail voting entirely

Republicans hold narrow margins as they defend Congress in November's midterms. Trump said Monday he will sign a new executive order ending mail-in ballots and voting machines nationwide. Trump argues paper ballots with watermarks would make elections more reliable. Democratic voters have historically used mail ballots more often than Republicans, and legal challenges to the plan are expected quickly.

House Democrats demand full tally of Iran war costs

The US-Iran conflict has stretched for six months with no formal end in sight. House Democrats are now demanding the Trump administration disclose the war's total financial cost to taxpayers. The demand follows growing questions in Congress about the operation's price tag and its authorization. The administration has not yet responded.

Ex-health secretary weighs run for California governor

The nation's uninsured rate hit a historic low while Xavier Becerra led the Department of Health and Human Services. Becerra is now considering a run for California governor in 2026. Becerra argues Trump's policies have since pushed many Americans off their health coverage. A crowded Democratic primary field is already forming ahead of next year's race.

Trump pushes states to redraw congressional maps

Republicans are trying to protect their thin majority in the House before November. Trump has urged GOP-led states, including Texas and Indiana, to redraw congressional districts ahead of the midterms. The new maps would aim to increase the number of Republican-favorable seats. Democratic-led states have threatened to redraw their own maps in response.

Markets

Stocks close mixed as chip stocks slide -0.28%

Wall Street has grown cautious ahead of a busy week of earnings and Fed speeches. The S&P 500 fell 0.28% Monday to 7,652.86, while the Nasdaq Composite dropped 0.76% to 25,980.19. The Dow Jones Industrial Average bucked the trend, gaining 0.26% to 53,417.16. Memory chip makers led the declines after a report said Nvidia plans to raise prices on some AI servers.

Chipmakers tumble on AI server price-hike report -5.8%

Investors have grown sensitive to any sign the AI spending boom is cooling. Micron Technology shares fell 5.8% Monday, while Advanced Micro Devices and Broadcom each dropped more than 2%. The declines followed a weekend report that Nvidia will raise prices on some of its AI servers. Traders now await Nvidia's own earnings report, due Wednesday after the market closes.

Oil slips even as US tightens the screws on Iran -2.5%

Crude prices have swung wildly for months as the Iran war disrupts global shipping. Brent crude fell 2.5% Monday to $92.06 a barrel, even as Washington rolled out its new Iran sanctions plan. Traders appeared to take profits after a sharp rally the previous week. Analysts at Commonwealth Bank say prices could fall further if Strait of Hormuz traffic recovers even modestly.

Gold nears three-month high on debt worries $4,630

Concerns about US government debt have pushed investors toward safe-haven assets. Gold climbed to around $4,630 an ounce Monday, its highest level since mid-May. The move followed an unexpected increase in the Treasury's purchases of longer-dated government debt. That shift pushed bond yields and the dollar lower, boosting demand for gold as an alternative store of value.

Fed chair's Jackson Hole speech looms over markets

Traders are bracing for signals on where interest rates go next. Fed Chair Kevin Warsh delivers his first Jackson Hole keynote as chair this Friday. Futures markets currently price a 36% chance of a September rate hike. Nvidia's earnings Wednesday could also move markets ahead of that speech.

Entertainment

Perez Hilton reveals injuries from health crisis fall UPDATE

Perez Hilton's mental health crisis last week alarmed fans across social media. His brother-in-law revealed on a podcast Monday that Hilton suffered multiple broken bones and cuts from falling that night. Hilton is still being treated for the injuries. Hilton has not yet commented publicly on his recovery.

Disney sets release dates for two animated sequels

Disney is leaning on established franchises for its next wave of theatrical releases. The studio announced release dates Monday for Lilo & Stitch 2 and The Incredibles 3. Both sequels follow recent box-office hits built on nostalgia for earlier films. Disney has not yet released plot details for either movie.

Netflix in talks for a K-Pop Demon Hunters tour

K-Pop Demon Hunters won Best Animated Feature and Best Original Song at the 2026 Oscars. Concert promoters are now negotiating with Netflix over a live tour built around the film's songs. The tour would stop in arenas across multiple countries. Organizers are aiming for a 2027 launch, timed to a planned sequel.

Grace Potter returns with road-trip inspired album

Grace Potter has spent recent years touring between coasts. The four-time Grammy nominee released her seventh album, Trespasser, inspired by drives between her California home and native Vermont. Potter discussed the album Monday on CBS Saturday Morning. The record marks her first new full-length project in several years.

Martha Stewart adds a podcast to her Netflix deal

Martha Stewart has steadily expanded her media presence in recent years. Stewart is launching a new podcast alongside her existing series, Martha Cooks, both debuting on Netflix this year. The projects deepen her partnership with the streaming service. Stewart continues to release new content across cooking, lifestyle and business formats.