WS #10723

The dominant signal in this window is a sharp escalation in the Strait of Hormuz crisis. The Guardian reports that the UN has paused ship evacuations through the strait after a vessel was hit by a projectile off the coast of Oman, following Iran's threats to control shipping. This is corroborated by Polymarket trades showing bets on 'Strait of Hormuz traffic returns to normal by July 31?' and a general license from the US authorizing Venezuela earthquake relief transactions (likely unrelated but shows geopolitical tension). Separately, the tech selloff narrative is confirmed by CNBC reporting Nasdaq's fourth consecutive losing day, driven by Apple (-6%) and Microsoft (-3%) on price hikes due to memory cost surges. However, Micron ($MU) jumped 18% on a blockbuster forecast, providing a counter-signal within the semiconductor space. Bitcoin crashed to $58K low, as per Seeking Alpha, citing inflation and rate cut concerns. The Trump administration asked OpenAI to limit next model release over security concerns, which could impact AI sentiment. Nikkei futures trade sharply lower at 71,065 vs cash close 72,366, indicating a negative open for Japanese equities. The narrative arc is ESCALATING for geopolitical risk (Hormuz) and STABLE for tech selloff, with a counter-signal from Micron's strong earnings.