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Intel: Russia May Provoke NATO as U.S. Munitions Deplete

Wall Street Journal Markets •
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New U.S. intelligence warns that Vladimir Putin could test NATO’s resolve with a limited assault on an allied nation within the next few years, a scenario that arises amid dwindling U.S. munitions supplies and adds urgency to the potential confrontation.

Beijing’s expanding control over global supply chains makes China’s export engine more formidable and far more resilient against foreign tariffs, while its growing influence in technology markets further strengthens its economic leverage.

Middle East correspondents wonder if Iran’s reduced diplomatic corps can broker a breakthrough to reopen the Strait of Hormuz, while NYC’s pied‑à‑terre owners seek creative ways to dodge a new tax and a lighter story highlights a surprisingly hot market for winemakers flying at 30,000 feet.

Generative AI is steamrolling the software‑as‑a‑service sector, sparking a “Saa Spocalypse” as tools for legal drafting, research and other narrow tasks become obsolete; the sector’s rapid growth in the 2010s, driven by venture capital and blockbuster IPOs of companies like Slack and Zoom, now faces disruption as AI makes many applications redundant, prompting investors to turn to special‑purpose vehicles for exposure to hot private firms.