Asian equities, U.S. and European futures sink into the red after the Dow falls over 400 points. Bond yields erase the "Bessent" moves as the 10-year returns to highs not seen since January 2025. Oil drives higher, with WTI above $90 and Brent above $95 a barrel. President Trump claims "almost total control of the Hormuz Strait" as Iran targets U.S. military assets in the Gulf. China dissents from the G20 statement, opposing the wording of "cheap exports." In corporate news, VW is set to be pushed out of the Euro Stoxx 50 and replaced by Nokia
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