Iran threatens to walk out after Israel struck Beirut's outskirts, jeopardizing the U.S.-Iran deal Trump said was near signing. Trump rebuked Israel, calling the strikes disproportionate. The fighting between Israel and Hezbollah, backed by Iran, now poses a major hurdle to any peace agreement. Senior officials keep talks open.

The conflict's market fallout sees investors watching heightened Middle East risk, oil prices rising and equities wobbling. At the same time SpaceX's IPO surged, giving Elon Musk's firm a $2.1 trillion market cap, with $18 million bought in the first 20 minutes. The contrast underscores volatility. Investors also eye currency swings.

California's billionaire tax prompts ultra‑wealthy to reshuffle assets through trusts, charitable gifts and offshore purchases. While policymakers debate, the Lebanon flare‑up stalls diplomatic momentum, leaving any near‑term U.S.-Iran normalization doubtful. No further progress expected until hostilities subside. Banks are revising risk models.