Stablecoin Regulation Fears Hit Crypto, OpenAI Ends Sora

This episode of The Rundown covers Tuesday's market declines amid Middle East tensions, a proposed U.S. bill targeting stablecoin yields, OpenAI's decision to end its Sora video app, Arm Holdings' entry into direct chip sales, Popmart's post-hype stock drop, and Costco's new energy drink challenging Celsius.

Market Swings Tied to Iran Tensions

U.S. stocks fell on Tuesday, with the S&P 500 down 0.4% and Nasdaq dropping 0.8%, driven by fluctuating news from the Middle East. Midday reports of President Trump deploying more troops raised oil prices and pressured stocks, but after-hours updates shifted toward de-escalation: Trump noted progressing Iran negotiations and a 15-point U.S. proposal to end the conflict, while Iran assured safe passage for non-hostile vessels through the Strait of Hormuz. This pulled Brent crude back over 5% below $100 per barrel pre-market. The host expects ongoing choppiness as developments unfold hourly.