European nations are reportedly developing an independent maritime security plan for the Strait of Hormuz, explicitly excluding the United States, Israel, and Iran from the defensive mission. French President Emmanuel Macron confirmed the initiative, aiming to provide confidence to commercial shippers navigating the region once immediate fighting subsides. This move signals a distinct European effort to manage crucial global trade routes separate from Washington's posture.

Meanwhile, markets showed resilience despite geopolitical flashpoints. Major indices regained ground lost during recent Iran-related volatility and prior 'AI-pocalypse' fears, with the Dow Jones Industrial Average adding 0.7%. However, the International Monetary Fund issued a stark warning, suggesting a prolonged Middle East conflict could drag global growth down to levels associated with the deepest recent recessions.

In corporate news, Amazon offered Globalstar shareholders a choice between $90 per share in cash or 0.3210 shares of Amazon common stock in a deal expected to close by 2027. This acquisition bolsters Amazon’s Leo satellite venture as it competes against SpaceX’s Starlink network. Separately, Fed nominee Kevin Warsh disclosed extensive personal wealth, pledging divestment ahead of his April 21 confirmation hearing.

Investor anxiety over infrastructure spending remains, as 51 U.S. utilities plan over $10 billion in grid upgrades over five years to support AI-driven electricity demand. This spending surge, up over 20% from earlier projections, may prompt state regulators to approve further consumer rate increases.