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Mornly

Wednesday, June 24, 2026

Top news

  • Iran rebutted Vice President JD Vance's claims that it would allow UN nuclear inspectors back, saying no visit is scheduled to access its nuclear sites.
  • The U.S. temporarily lifted oil sanctions on Iran, allowing the country to sell its oil in dollars to American buyers for the first time in decades as negotiations continue.
  • A suspect armed with a long gun opened fire at a Montreal hotel, killing a police officer before officers returned fire and killed him.

World

  • U.S. President Trump signed a memorandum of understanding with Iran at the Palace of Versailles on June 18, marking a significant diplomatic step toward easing the Middle East conflict.
  • British Prime Minister Keir Starmer resigned following pressure from within his Labour Party, paving the way for the country's seventh leader in a decade.
  • U.S. Vice President JD Vance concluded negotiations with Iran in Switzerland, expressing optimism about a future deal that would limit Iran's nuclear program.

Business

  • Micron Technology dropped more than 10% leading a broad chipmaker selloff, with Marvell shedding 8% and SanDisk losing 11%.
  • Lucid cut roughly 18% of its U.S. workforce as its second layoff round this year, eliminating the COO role, and suspended 2026 production guidance.
  • SpaceX shares fell below $150, the price it opened at nearly two weeks ago, dropping the stock below a $2 trillion market cap.

Technology

  • A fatal Tesla crash in Texas put autonomous driving safety in spotlight as AI race moves into the physical world.
  • SpaceX shares fell almost 4% Tuesday, down 26% since hitting a closing high of $201.80 following its blockbuster June 12 IPO.
  • Micron Technology dropped 10% in premarket trading before earnings, while South Korean chipmakers SK Hynix and Samsung fell over 4% as AI-linked stocks faced global selloff.

Science

  • Researchers uncovered why H5N1 bird flu attacks cows' udders instead of their lungs: the virus's preferred receptors are concentrated in mammary tissue.
  • A bird long thought to be a single rare species in Japan has turned out to be two, with the elusive Ijima's Leaf Warbler and newly identified Tokara Leaf Warbler distinguished by DNA and songs.
  • A rare meteorite revealed evidence of a massive lost world that once orbited the young sun before being destroyed in a catastrophic collision.

Economy

  • Annual inflation reached 4.2% for the 12 months ending May, up from 3.8% in April, driven largely by energy costs jumping 23.5% due to the conflict with Iran.
  • The Federal Reserve held the federal funds rate at 3.5%-3.75% at its June meeting, but the median estimate for year-end 2026 rose to 3.8%, signaling the committee sees at least one rate hike as necessary this year.
  • New Fed Chair Kevin Warsh's first meeting signaled less forward guidance and a broader review of Fed communications, balance sheet policy and inflation framework, with PCE inflation projections revised sharply higher to 3.6% from 2.7% for this year.

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