[Morning News] The situation in the Middle East remains tense as passage through the Strait of Hormuz is restricted. The U.S. Navy’s blockade has been escalated, and Iran says that no vessels may pass without approval. Trump announced a 100% tariff on certain drones, and ordered the Navy aircraft carrier to restore its steam catapult system. The People’s Bank of China conducted a RMB 10,000 billion 6-month reverse repurchase agreement with outright buyback, and market liquidity remains ample. The S&P 500 first broke through the 7,800 mark to a new all-time high, with expectations for Federal Reserve rate hikes cooling. Watch how safe-haven assets such as $BTC and $ETH perform amid the Middle East situation. NFA | DYOR