⚡ Today in History

On July 14, 1789, crowds stormed the Bastille prison in Paris, the event that came to mark the start of the French Revolution. In 2015, world powers and Iran signed a deal to limit Iran’s nuclear program in return for sanctions relief. Today? The United States and Iran are at war, and a US naval blockade of Iranian ports resumes this afternoon.

Top News

US restarts Iran blockade today, claims a cut of Hormuz cargo 20% TOLL

After a US–Iran ceasefire collapsed last week, US Central Command will restart its naval blockade of all Iranian ports at 4 p.m. ET Tuesday, covering the entire coastline along the Strait of Hormuz, the route that carried about a fifth of the world’s oil before the war. President Donald Trump has declared the United States the “guardian” of the strait and says shippers should pay a 20% fee on cargo in return for US protection.

Iranian missiles hit two UAE tankers, killing Indian sailor

Iran fired two cruise missiles at the Mombasa and Al Bahiyah, two United Arab Emirates oil tankers crossing the southern lane of the Strait of Hormuz in Omani waters, the UAE Ministry of Defense said Monday. The strike killed one Indian crew member and injured eight others, and India summoned Iran’s deputy ambassador in protest.

Senator Lindsey Graham dies at 71 AGE 71

Republican Senator Lindsey Graham of South Carolina died late Saturday from an aortic dissection linked to heart disease, his office said, hours after he returned from a trip to Ukraine. A close ally of President Donald Trump and a leading Senate voice on foreign policy, Graham had served in the chamber since 2003 and was running for a fifth term.

Judge rules Trump acted in bad faith in $10B IRS lawsuit $10B

A federal judge on Monday found that President Donald Trump and his family brought their $10 billion lawsuit against the Internal Revenue Service in bad faith, rebuking the president, his lawyers and the Justice Department. The suit led to a May agreement in which the government set up a $1.8 billion “anti-weaponization fund” and dropped tax audits of Trump, his family and his businesses.

US inflation cools to 3.5%, sharpest monthly drop in six years

US consumer prices fell 0.4% in June, the largest monthly decline in more than six years, the Bureau of Labor Statistics reported, pulling annual inflation down to 3.5% and beating forecasts. The softer reading eased pressure on the Federal Reserve and cut market bets on an interest rate move at its July 28–29 meeting.

World

Leaders gather in Paris, launch a missile-defense coalition 37 LEADERS

With European security in focus, 37 heads of state met at the Hôtel des Invalides in Paris on Monday for a Coalition of the Willing summit to reaffirm support for Ukraine. Ukraine and nine European nations, among them France, Germany and the United Kingdom, announced a new anti-ballistic missile coalition to build a shared air-defense system.

Bastille Day parade puts European backing for Ukraine on show

France’s July 14 military parade in Paris featured aircraft from 11 European countries and about 500 troops from Coalition of the Willing allies that have pledged to help rebuild Ukraine after the war. Ukrainian President Volodymyr Zelensky attended the summit a day earlier at the invitation of French President Emmanuel Macron.

Ukraine says it struck 105 Russian ships near Crimea 105 SHIPS

Ukrainian forces hit 105 Russian vessels in the Sea of Azov near Crimea between July 6 and 13, the commander of Ukraine’s drone forces, Robert Brovdi, said, as part of an effort to cut supply lines to the peninsula. Russian President Vladimir Putin vowed to answer Ukraine’s recent long-range strikes with attacks “several times more powerful.”

Houthis threaten new attacks after Yemen airport strike

Yemen’s Houthi movement, an Iran-backed armed group, threatened fresh attacks on Saudi Arabia after airstrikes hit the airport in Sanaa, the Houthi-held capital. The threat widens the regional fallout from the US–Iran war.

Qatar condemns tanker attack as a dangerous escalation

Qatar’s foreign ministry called Iran’s missile strike on the two UAE oil tankers in the Strait of Hormuz a serious breach of international law and a threat to global energy supplies. Condemnation spread across the Gulf as fighting near the waterway intensified.

Politics

Graham’s sister appointed to Senate, restoring GOP edge 53–47

South Carolina Governor Henry McMaster on Monday appointed Darline Graham Nordone, the sister of the late Senator Lindsey Graham, to serve the rest of his term. The appointment restores Senate Republicans’ 53–47 majority, and a special primary for the November race is set for August.

US hits the International Criminal Court with new sanctions

The Trump administration announced fresh sanctions on the International Criminal Court, the Hague-based body that prosecutes war crimes and genocide. The step deepens a long-running standoff between Washington and the court over its investigations.

McConnell says a fall put him in the hospital AGE 84

Republican Senator Mitch McConnell of Kentucky, 84, said for the first time that a fall led to the hospital stay that kept him out of the Senate for about four weeks. McConnell said he would not return to the chamber “quite yet” but continues to work with his staff.

Trump says allies must pay to guard the Strait of Hormuz

President Donald Trump said the United States should be “reimbursed” for protecting shipping in the Strait of Hormuz, proposing a 20% fee on cargo. A senior Gulf source told Axios that Washington had not discussed the tolls with its regional allies before the announcement.

Hochul presses White House on immigration detention plans

New York Governor Kathy Hochul demanded details from the Trump administration on its plans to expand immigration detention facilities. The request adds to a wider clash between Democratic governors and the White House over immigration enforcement.

Markets

Oil jumps as Iran blockade nears — Brent hits $87 $87 BRENT

Oil prices climbed sharply Tuesday as the US–Iran ceasefire collapsed and Washington prepared to restart its blockade of Iranian ports. Brent crude, the global benchmark, rose 4.8% to $87 a barrel, its highest since June 12, while US West Texas Intermediate gained 3.6% to nearly $81.

Stocks slide as war and chip fears weigh on Wall Street

US stocks fell Monday after President Donald Trump announced the renewed blockade, pushing oil higher and pressuring shares. The S&P 500 lost 0.79% to 7,515, the Nasdaq Composite dropped 1.55% to 25,873, and the Dow Jones Industrial Average slipped 0.26% to 52,499.

Big banks open earnings season with record JPMorgan profit

JPMorgan Chase reported its highest quarterly profit ever as US banks began releasing second-quarter results Tuesday, though the stock fell about 2.5%. Bank of America and Wells Fargo also beat forecasts but saw their shares decline in early trading.

Chip stocks tumble on AI spending worries SK HYNIX −9%

Semiconductor shares fell Monday on concern that large artificial-intelligence customers could slow spending on data centers. US-listed shares of South Korea’s SK Hynix dropped about 9%, memory maker Sandisk fell 12.6%, and Nvidia slid 3.5%.

Cooler inflation eases the pressure on the Fed

June’s softer inflation reading cut the odds of a Federal Reserve interest rate move this month, easing a worry that had lifted bond yields. Fed Chair Kevin Warsh is set to testify before Congress on Tuesday, with earnings from Goldman Sachs and Citigroup also due.

Entertainment

Sam Neill, ‘Jurassic Park’ star, dies at 78 AGE 78

New Zealand actor Sam Neill, best known as paleontologist Alan Grant in the “Jurassic Park” films, died Monday in Sydney at age 78, his family said. Neill, who also starred in “The Piano” and “Peaky Blinders,” had said in April that he was cancer-free after treatment for a blood cancer.

‘The Pitt’ leads 2026 Emmy nominations with 25 25 NODS

The medical drama “The Pitt” topped the 2026 Emmy nominations with 25 nods, the Television Academy announced. The comedy “Hacks” followed with 24, a record for a comedy series in a single year.

‘Michael’ becomes Lionsgate’s first billion-dollar film

The Michael Jackson biopic “Michael” passed $1 billion at the global box office in its 12th weekend in theaters, the first film ever to reach that mark for studio Lionsgate. The picture is only the second movie to hit $1 billion in 2026.

Disney’s live-action ‘Moana’ opens below expectations

Disney’s live-action remake of “Moana” opened to $43 million in the United States and $95 million worldwide, short of the roughly $130 million the studio had hoped for. The remake earned an A− CinemaScore from audiences.

States sue to block Paramount–Warner Bros. merger

California and other states filed suit to stop Paramount from buying Warner Bros. Discovery, a deal that would combine several of the largest US film studios and TV newsrooms. The states argue the merger would reduce competition across Hollywood.