⚡ Today in History

On June 25, 1950, North Korean forces crossed the 38th parallel into South Korea, igniting a war that killed an estimated 4 million people over three years. In 2009, Michael Jackson died at age 50 in Los Angeles. Today? A U.S.-Iran ceasefire hangs by a 60-day thread — and a Senate vote is sending Washington a message that the public has run out of patience for conflict.

Top News

Senate Votes to End Iran War — For the First Time 50–48

After nine failed attempts since the U.S. and Israel launched the Iran war on February 28, 2026, the Senate voted 50–48 on Tuesday to direct President Trump to remove U.S. forces from the conflict — with four Republicans breaking ranks to deliver the chamber's first-ever successful war powers rebuke on Iran. The resolution is largely symbolic and not legally binding, but it signals deepening bipartisan resistance to a war that Moody's Analytics estimates has cost U.S. consumers and taxpayers roughly $132 billion so far.

Pentagon Asks Congress for $80 Billion More for Iran War $80B

As the U.S. and Iran hold nuclear talks under a 60-day ceasefire framework signed on June 17, Defense Secretary Pete Hegseth is lobbying Capitol Hill for an $80 billion supplemental war funding package to restock munitions and repair bases damaged by Iranian drone and missile strikes. The request comes on top of a separate White House push for a $1.5 trillion annual defense budget — a nearly 50% increase over current levels.

Tech Stocks Slide Two Days Running — Chips Lead the Drop

A global selloff in semiconductor and artificial intelligence stocks drove the Nasdaq down 2.21% and the S&P 500 down 1.44% on Tuesday, June 24, after South Korea's chip-heavy KOSPI index fell nearly 10% overnight on investor fears that AI spending by major cloud companies may not deliver the expected returns. Micron Technology dropped 13%, Nvidia fell 4.2%, and AMD shed 5.8% — though futures recovered Wednesday morning as investors awaited Micron's quarterly earnings report.

UK Prime Minister Keir Starmer Resigns After Less Than Two Years

Facing a collapse in Labour Party support following dismal May local elections and a string of cabinet resignations, UK Prime Minister Keir Starmer announced his resignation on June 22, 2026, outside 10 Downing Street — making him the sixth British prime minister to leave office in seven years. Greater Manchester's former Mayor Andy Burnham, who won a by-election in Makerfield days earlier, is widely expected to replace him, with nominations opening July 9 and a new leader expected by September.

World Cup Group Stage Concludes — USA Faces Türkiye Tonight

The 2026 FIFA World Cup — the first to feature 48 nations and co-hosted by the U.S., Canada, and Mexico — enters its final group-stage matchdays, with the U.S. men's national team needing a result against Türkiye at SoFi Stadium in Inglewood, California, on Thursday night to advance. Canada leads Group B undefeated after routing Qatar 6–0 on June 18 and sits on the verge of reaching the knockout rounds for the first time in its history.

World

Iran Nuclear Inspectors Blocked Until Final Deal, Tehran Says 60-DAY CLOCK

Hours after Rafael Grossi, the head of the International Atomic Energy Agency — the United Nations body that monitors nuclear sites — said inspectors would visit Iranian facilities, Tehran clarified on June 24 that no IAEA access would be granted until a permanent nuclear agreement is signed. The standoff complicates the 60-day ceasefire framework that both the U.S. and Iran signed on June 17 at the Palace of Versailles, with unresolved questions about Iran's 11 tons of enriched uranium at the center of negotiations.

Cuba Passes 176 Free-Market Reforms — Biggest Shift Since 1959

Cuba's National Assembly unanimously approved 176 economic reforms on June 19, 2026, authorizing private banks, foreign real estate investment, and businesses employing more than 100 workers for the first time since Fidel Castro's revolution. The overhaul, backed by former President Raúl Castro and described by analysts as the largest structural change to Cuba's socialist model in six decades, comes as the island endures blackouts lasting up to 20 hours a day under a U.S. energy and financial embargo that has blocked nearly all fuel deliveries since January.

Strait of Hormuz Reopening Stalls as Demining Talks Continue

Despite Trump's June 14 Truth Social post declaring the Strait of Hormuz — through which roughly 20% of the world's oil normally flows — open for business, the 21-mile-wide waterway between Iran and Oman remains largely impassable due to mines laid during the conflict. U.S. and Iranian negotiators are working on a joint "coordination mechanism" for mine clearance as a precondition to resuming full commercial shipping, with energy markets watching closely for any sign of progress.

Colombia Elects Trump-Backed Far-Right Candidate in Runoff

Rodolfo Hernández de la Espriella, a Trump-endorsed populist, claimed victory in Colombia's presidential runoff on June 23, 2026, in a razor-thin preliminary count, setting up a major shift in U.S.–Latin America relations for South America's fourth-largest economy by GDP. The result follows months of campaigning in which de la Espriella positioned himself alongside Trump's hardline stance on Venezuela and drug trafficking.

World Bank Slashes Global Growth Forecast to 2.5% — Lowest Since Covid

The World Bank cut its 2026 global economic growth forecast to 2.5% — the weakest projection since the coronavirus pandemic of 2020 — citing the disruption caused by the U.S.-Iran war, which choked oil and gas exports through the Persian Gulf and forced Middle Eastern producers to cut crude output by more than 11 million barrels per day in May compared to pre-war levels. Gulf economies are now projected to grow just 1.3% this year, down from 4.5% in 2025.

Politics

Four GOP Senators Broke with Trump to Pass the War Powers Vote 10TH ATTEMPT

Republican Senators Lisa Murkowski of Alaska, Susan Collins of Maine, Rand Paul of Kentucky, and Bill Cassidy of Louisiana joined Democrats in the 50–48 vote on June 23 to direct Trump to end Iran hostilities — the 10th time the Senate had attempted a war powers resolution on Iran, and the first time it passed. Trump responded on Truth Social calling the four "losers," while Democrat Senate Minority Leader Chuck Schumer called the vote proof that the war "has cost the American people too much."

Trump Heads to Capitol to Sell Iran Deal to Skeptical Republicans

President Trump traveled to Capitol Hill on Wednesday to meet with Republican senators facing a contentious Iran funding vote, as hawks in both parties raised objections to the memorandum of understanding's $300 billion Iran reconstruction fund and concessions on uranium enrichment. Senator Ted Cruz said on his podcast last week that Trump was getting "very poor advice on Iran," and the Pentagon's separate $80 billion war reimbursement request has added to tensions over an already strained federal budget.

Bipartisan Housing Bill Heads to Trump's Desk After Passing Both Chambers

A rare bipartisan housing bill cleared both the House and Senate as of June 23, 2026, aimed at driving down housing costs by increasing the supply of homes across the country, and is now awaiting President Trump's signature. The legislation arrives as Denver and other cities are already reporting falling rents — a trend economists caution can signal economic weakness as much as increased supply.

Alphabet to Join the Dow Jones Industrial Average Next Week

S&P Global announced that Google parent company Alphabet will replace an existing component of the Dow Jones Industrial Average — the benchmark 30-stock index tracking the largest U.S. companies — when trading begins next Monday. Alphabet shares rose about 0.5% in after-hours trading on the news, a modest rebound after the broader technology sector lost more than $400 billion in market value over two volatile sessions.

Bank of America and Deutsche Bank Now Forecasting Three Fed Rate Hikes in 2026

Bank of America Global Research and Deutsche Bank revised their Federal Reserve forecasts this week, now projecting three separate 25 basis-point rate increases — in September, October, and December — under Fed Chair Kevin Warsh, making them the most aggressive rate-hike forecasters among major global banks. The projections reflect concerns that inflation, driven by war-era energy costs and supply chain disruption, will remain stubborn even as oil prices begin to ease.

Markets

Chip Stocks Crater — Nasdaq Loses 2.2% in Two-Day AI Selloff NASDAQ −2.21%

The Nasdaq Composite closed at 25,587.04 on Tuesday, June 24 — down 2.21% — and the S&P 500 fell 1.44% to 7,365.46, as a global wave of selling hit semiconductor stocks on growing investor concern that massive AI infrastructure spending by large cloud companies may not deliver the expected financial returns. South Korea's KOSPI index fell nearly 10% overnight after signals from regulators that the chip sector's rally had overheated, pulling U.S. stocks down with it.

Oil Falls to $71 a Barrel as Iran Deal Eases Supply Fears

West Texas Intermediate crude oil dropped to $71.10 per barrel on Wednesday morning — down from a peak above $119 in March 2026 when the U.S.-Iran war threatened to permanently close the Strait of Hormuz — as markets priced in the June 17 ceasefire and the prospect of Iranian oil re-entering global supply. Fertilizer prices, which climbed 47% during the war, are also beginning to fall, offering potential relief for food prices that rose throughout the spring.

Gold Pulls Back to $3,988 an Ounce as War Risk Fades

Gold fell to $3,988 per ounce on Wednesday morning — down $125 from the prior session and well off the $5,280 peak it reached during the March 2026 peak of Iran war tensions — as the ceasefire agreement reduced demand for the precious metal as a safe haven. Additional selling pressure came from investors trimming gold positions to offset losses in technology stocks, while firm expectations of Federal Reserve rate hikes in the second half of 2026 strengthened the U.S. dollar.

Bitcoin Holds Near $62,600 — Down $43,500 From a Year Ago

Bitcoin was trading at $62,651 on Wednesday morning, roughly $43,500 below its price at the same time last year, reflecting a year of volatility driven largely by the Iran war and its effects on global risk appetite. During the peak of the March 2026 oil spike, Bitcoin fell in tandem with Nasdaq-listed stocks, confirming a strong correlation with technology equities rather than the inflation-hedge behavior its supporters have long claimed.

Micron Earnings Tonight — The Most Important Report of the Month

All eyes on Wall Street turned to Micron Technology's quarterly earnings report due Wednesday after the close, with analysts expecting sales of about $35 billion — up from $9.3 billion in the same quarter last year — driven by explosive demand for AI memory chips. Micron shares fell 13% on Tuesday and rebounded about 4% in pre-market trading Wednesday; the company's management commentary on future demand and pricing is expected to set the tone for the broader semiconductor sector for weeks.

Entertainment

AJ Dybantsa Goes No. 1 in NBA Draft — First BYU Player to Top the Board 25.5 PPG

The Washington Wizards selected BYU forward AJ Dybantsa with the No. 1 overall pick in the 2026 NBA Draft at Barclays Center in Brooklyn on June 23, making him the first player from Brigham Young University — a school in Provo, Utah — ever drafted first in the league's 80-year history. Dybantsa, who led the nation with 25.5 points per game in his lone college season, becomes Washington's first top pick since John Wall in 2010; the Utah Jazz took Kansas guard Darryn Peterson second and Memphis selected Duke's Cameron Boozer third.

Wall Street Gives Goldman and JPMorgan Staff World Cup WFH Days

Goldman Sachs and JPMorgan Chase — two of Wall Street's largest banks, which have enforced strict five-day in-office mandates over the past two years — are allowing staff to work from home on days when the 2026 FIFA World Cup features high-profile matches, according to reporting published June 23. The temporary exception applies through the tournament's final on July 19 at MetLife Stadium in East Rutherford, New Jersey.

Scotland on the Brink of History vs. Brazil at World Cup

Scotland faces five-time World Cup champion Brazil in Miami on Wednesday in what amounts to a winner-advances match for Group D, with the Scots needing only a draw to reach the round of 32 in a World Cup for the first time in their history. Scotland drew 1–1 with Haiti in their opening game on June 13 before falling 1–0 to Morocco on June 19.

Pope Leo XIV Warns of AI Risks in First Papal Document

Pope Leo XIV released his first papal encyclical, titled Magnifica humanitas (Latin: "Magnificent Humanity"), on May 25, 2026, warning that artificial intelligence poses significant risks to workers and humanity broadly. The 42,300-word document — the Catholic Church's most authoritative form of teaching — is drawing renewed attention this week as AI-related market volatility rekindles public debate about the economic disruption of automation.

GTA VI Pre-Sales Launch as Take-Two Stock Surges 20%

Take-Two Interactive's shares climbed from $206 to a recent high of $247 in anticipation of pre-sales opening for Grand Theft Auto VI, one of the most anticipated video game releases in years, with analysts at BTIG initiating coverage with a Buy rating and a $290 price target. The title from Rockstar Games is expected to be among the highest-grossing entertainment launches in history when it ships later this year.