Donald Trump said a deal involving Iran could be reached within “two or three days,” adding that the Strait of Hormuz would reopen “immediately” after an agreement. Oil prices fell Tuesday morning, with Brent down 1.3% to $93.02 and WTI down 1.8% to $89.67, while analysts flagged downside risks for gold and warned crude could spike if fighting continues.

The U.S. trade deficit narrowed slightly in April, ending the month at $55.9 billion as exports rose faster than imports. Exports increased 2.6% to $327.1 billion, helped by a $6.4 billion rise in crude oil exports alongside gains in fuel oil and other petroleum products. The Commerce Department release also showed higher overseas sales of computers and civilian aircraft, while import growth was led by semiconductors and telecom equipment.

In June 2029, AI Financial Corp. (NASDAQ: AIFC) warned it may not be able to continue operating, even as World Liberty Financial disclosures tie Trump and family members to about $500 million from the WLFI token sale. AIFC shares fell from $8.97 on Aug. 8 to $0.66, while the firm’s 7.3 billion WLFI tokens bought at $0.20 were shown trading around $0.057 on June 8.

U.S. May CPI data is scheduled for release Wednesday at 8:30 a.m. ET, with Wall Street expecting a 0.5% monthly increase and 4.2% year-over-year inflation. Core CPI is projected at 2.9% annually after a 0.3% May rise, as concerns build that higher oil prices are feeding through the broader economy.

U.S. stocks fell on Tuesday, with the S&P 500 down 0.9%, the Nasdaq Composite off 1.8%, and the Dow Jones Industrial Average lower by 84 points. The pullback was led by chip names, as the iShares Semiconductor ETF sank nearly 6% and dragged technology shares lower even as oil slipped to around $86 a barrel.

The EU's MiCA transitional period expires on July 1, 2026, after which crypto-asset service providers without a valid license cannot legally access the EU single market. Ahead of the deadline, only 14 firms are authorized to operate a crypto trading platform across the entire EU, while 10 member states have issued no MiCA authorizations. Users may face account migrations or wind-downs, and on regulated EU platforms USDT is effectively blocked while USDC remains compliant.

At IATA’s annual meeting in Rio de Janeiro, airline CEOs focused on surging fuel costs, weakening profitability and reliability problems in new-generation engines. Executives said booking demand has largely held up even as fares rise, while aircraft orders continue because delivery slots for popular models remain scarce.

The Office of the U.S. Trade Representative proposed Section 301 tariffs of up to 12.5% on 59 countries and the European Union, arguing that trading partners have failed to curb imports made with forced labor. International Labour Organization estimates put forced-labor victims at 27.6 million people daily and illegal profits at about $236 billion annually. Trade and legal experts said the investigation moved unusually fast for such a complex topic and could face court challenges, while the U.S. has also struggled with enforcement.