- Asian stock markets declined on Tuesday, mirroring losses on Wall Street as US equities retreated from recent record highs.
- Oil prices fell back after an earlier surge, amid escalating tensions in the ongoing conflict between the US and Iran.
- The fragile ceasefire between the US and Iran faced significant challenges, with the US military sinking six Iranian small boats and the UAE reporting an attack from Iran.
- US President Donald Trump's “Project Freedom” plan commenced, aiming to guide stranded ships through the Strait of Hormuz, a crucial waterway largely closed due to a US sea blockade on Iranian ports.
- Analysts warned that the continuation of “Project Freedom” risks further escalation, and any relief from vessels navigating the Strait would be temporary.
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