SK Hynix’s American depositary shares surged more than 24% Tuesday, climbing to fresh highs since the memory chipmaker’s Nasdaq debut, reversing much of the damage from Monday’s historic single-day plunge in Seoul. Here are five factors driving Tuesday’s dramatic rebound.
1. Newly launched leveraged ETFs amplified trading volume. The most immediate catalyst behind Tuesday’s sharp move was the debut of geared, single-stock exchange-traded funds tied directly to SK Hynix. GraniteShares launched both a 2x Long SK hynix Daily ETF, trading under the ticker SKUU, and a 2x Short version, SKDD, while ProShares introduced its own 2x long single-stock fund, ProShares Ultra SK hynix, trading as SKHU. The introduction of those geared products pulled in heavy trading volume that amplified underlying moves in the stock throughout the session. Analysts at 24/7 Wall St noted that follow-through in related memory names such as Micron, SanDisk and Western Digital would help confirm whether the broader rally reflected genuine sector rotation rather than a one-day squeeze tied specifically to the ETF launches.
2. Options trading began on U.S. exchanges for the first time. Tuesday also marked the first day options on SKHY shares became available to trade on U.S. exchanges, a development that drew significant speculative interest almost immediately. The most actively traded contract as of Tuesday afternoon was a $185 strike call option, with volume around 2,900 contracts, followed closely by a $145 strike put, while August calls with a $200 strike price also saw heavy interest, exceeding 1,500 contracts in volume. Daniel Kirsch, head of options at Piper Sandler, said the new market was likely to draw a wave of short-term speculative positioning. “Traders are expected to aggressively position for short-term trades betting on further gains in SK Hynix ADR this week,” Kirsch said, adding that demand for short-dated call options was expected to heat up further, with contracts expiring Friday potentially attracting a rapid influx of retail investors.
3. A cooler-than-expected U.S. inflation report lifted broader risk sentiment. Tuesday’s rally in SK Hynix unfolded against a backdrop of broader market strength following the release of June’s consumer price index, which came in well below Wall Street’s expectations. The softer inflation data helped ease bond yields and fueled a risk-on mood across technology and chip stocks generally, with the Nasdaq 100 rising roughly 1% on the day. That improving macro backdrop gave investors additional confidence to step back into AI-linked chip names like SK Hynix following Monday’s steep selloff, which had been driven in part by broader concerns about rising rates and geopolitical tensions tied to the ongoing conflict between the United States and Iran.
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4. Comments from SoftBank’s CEO dismissed AI bubble concerns. On the same day, at the annual SoftBank World conference held in Tokyo, SoftBank CEO Masayoshi Son predicted that the artificial intelligence sector would require $5 trillion in annual investment by 2040 and flatly dismissed market concerns about an AI bubble. According to TradingKey, those comments significantly bolstered sentiment and helped support the afternoon rebound across Asia-Pacific chip stocks more broadly, including South Korea’s benchmark Kospi index, which staged its own V-shaped recovery Tuesday after Monday’s steep decline. Analysts noted that SK Hynix’s fundamental narrative, built around soaring demand for high-bandwidth memory chips used in AI accelerators, had not experienced any material reversal despite the stock’s wild price swings, with UBS reiterating a buy rating on the shares earlier in the month and raising its price target on the Korean-listed stock to 3.2 million won.
5. Monday’s selloff was widely viewed as technical rather than fundamental. Analysts covering the stock characterized Monday’s 15.4% plunge in Seoul, the company’s worst single-day decline on record, as reflecting profit-taking and liquidity dynamics following an overheated post-IPO rally rather than any genuine deterioration in SK Hynix’s underlying business. Research firm TradingKey wrote that “SK Hynix’s current decline stems more from technical corrections and liquidity shocks following excessive earlier gains, and the medium-term supply-demand dynamics of HBM have not undergone any directional shift,” referring to high-bandwidth memory, the specialized chip category central to SK Hynix’s role as a key supplier to Nvidia and other AI infrastructure customers. That framing appears to have encouraged buyers to view Monday’s drop as a buying opportunity rather than a signal of deteriorating fundamentals, contributing directly to Tuesday’s sharp rebound.
Tuesday’s volatility caps an extraordinary first week of trading for SK Hynix’s American depositary shares. The stock opened at $170 on its Friday, July 10, debut and closed its first session up nearly 13% at $168.01, part of a $26.5 billion offering that marked the largest-ever U.S. listing by a foreign company. Monday’s plunge, tied to the broader Kospi selloff that also dragged down Samsung Electronics and triggered a market-wide trading halt in Seoul, pulled the ADR down toward the $150 to $155 range before Tuesday’s rally erased much of that damage.
Analysts remain divided on whether Tuesday’s sharp bounce marks a durable recovery or another leg of the extreme volatility that has characterized the stock since its debut. A separate analysis from FX Leaders cautioned that a sustained rebound would require SKHY to reclaim and hold above prior resistance levels near $162 to $168 to fully restore confidence in the post-listing rally, noting that “until the ADR premium narrows or Q2 earnings confirm that expectations remain achievable, investors may continue treating rallies with caution.” That premium has itself become a talking point among market watchers, with Bloomberg reporting the gap between SK Hynix’s American depositary receipts and their Korean-listed shares had swelled to nearly 50% just three days after the stock’s U.S. debut, a spread some analysts attribute to the ADR’s comparatively thin trading float relative to the much larger pool of shares available in Seoul.
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With SK Hynix’s formal second-quarter earnings report still pending and major cloud computing providers, including Microsoft, scheduled to report their own results later this month, analysts say the coming weeks should offer clearer signals on whether the underlying AI memory demand story justifies the stock’s current valuation, or whether Tuesday’s sharp rally simply represents another swing in what has already proven to be an unusually turbulent debut for one of the largest foreign listings in Wall Street history.
‘The Big Money Show’ panelists unpack New York Gov. Kathy Hochul’s concerns about the impact of data centers.
New York Gov. Kathy Hochul on Tuesday issued the nation’s first statewide temporary ban on new AI data centers in a sweeping move critics have long warned could drive tech investment and jobs out of New York.
The moratorium, which the Democrat signed as an executive order, will remain in effect for up to one year as demand for massive hyperscale data centers has surged across the state.
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Hochul said the initiative would require large data centers to shoulder more of the infrastructure costs they create and is intended to protect New Yorkers from rising utility bills and other financial risks associated with the industry’s rapid expansion.
“As data center development threatens to hike up utility bills, deplete our natural resources, and create uncertainty for New Yorkers, it’s my responsibility to take action and lead,” Hochul said during Tuesday’s signing and news conference announcing the moratorium.
Gov. Kathy Hochul issued the first statewide moratorium on new hyperscale data centers in New York. (Michael Nagle/Bloomberg via Getty Images, File / Getty Images)
Critics have long warned the move could divert billions in AI infrastructure investment to competing states, depriving New York communities of construction jobs, tax revenue and the type of land deals that have recently generated windfalls for rural landowners in places like Pennsylvania.
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“Gov. Hochul’s statewide moratorium on data centers will ensure that those investments, jobs, and economic activity flow elsewhere rather than to New York,” Dan Diorio, executive vice president of state policy and government affairs for the Data Center Coalition, said in a statement to Data Center Knowledge.
Under Hochul’s plan, future data center developers would be required to either generate their own electricity or pay higher rates to avoid shifting the cost of major grid upgrades onto residents.
The state is also proposing a fund that would require developers to help finance upgrades to New York’s aging electric grid, invest in clean energy projects or contribute to an insurance pool intended to protect consumers.
In addition, Hochul is pursuing legislation to repeal sales tax exemptions for large data centers.
Rows of servers fill a massive data center in Texas. (Paul Moseley/Fort Worth Star-Telegram/Tribune News Service, File / Getty Images)
Local governments will also receive a state-developed playbook designed to help communities negotiate with technology companies seeking to build nearby.
However, the announcement comes as some communities have reportedly profited from the AI infrastructure boom.
According to the Wall Street Journal, 96 Pennsylvania households collectively received more than $500 million after selling roughly 17,000 acres of rural land to QTS, a data center developer owned by Blackstone. The families sold their land for an average of about $330,000 per acre, receiving roughly $5.5 million each on average.
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A data center is seen in Ashburn, Va. (Lexi Critchett/Bloomberg, File / Getty Images)
During the one-year moratorium, New York will prepare a Generic Environmental Impact Statement (GEIS) to establish statewide standards for future AI data center development.
The study will examine issues including electricity demand, impacts on the power grid, water use and quality, air quality, and other potential environmental impacts of the construction.
Kate Middleton closed out a highly visible two-week stretch at Wimbledon this past weekend, presenting championship trophies to both the men’s and women’s singles winners while making multiple appearances alongside her husband, Prince William, and their children, marking one of her most active public runs in recent months.
The Princess of Wales attended the Wimbledon men’s singles final Sunday alongside Prince William, Prince George and Princess Charlotte, watching Italy’s Jannik Sinner defeat Germany’s Alexander Zverev to capture his second consecutive Wimbledon title. The family received a standing ovation as they entered the Royal Box at Centre Court, according to People. Prince Louis, the couple’s youngest child, did not attend. Kate, who has served as patron of the All England Lawn Tennis and Croquet Club since 2016, went on to present the Gentlemen’s Singles Trophy to Sinner following the match.
The men’s final appearance came one day after Kate attended the women’s singles final on Saturday, where she presented the Venus Rosewater Dish to champion Linda Noskova. Unlike Sunday’s outing, Kate attended the women’s final solo, without William or the couple’s children. Royal commentator Emily Ferguson had confirmed the solo appearance in advance, writing on X, “The Princess of Wales, Patron of the All England Lawn Tennis and Croquet Club, will attend the Ladies’ Singles Final at Wimbledon this afternoon,” adding that “she will attend the championships solo, and she will not be joined by her husband or her children.” For the women’s final, Kate wore a belted crimson Roland Mouret dress featuring a V-cut neckline and fit-and-flare skirt, paired with dainty jewelry and nude heels. She was accompanied at the tournament by her mother, Carole Middleton. Following the match, Kate shared a message on the Wales family’s official Instagram account: “An unforgettable Women’s Final at @wimbledon. Two outstanding performances. Congratulations Linda Nosková on a remarkable Wimbledon Championship!”
Sunday’s men’s final drew an especially star-studded Royal Box, with the Wales family joined by actors Dustin Hoffman, Nicole Kidman and Ben Stiller among the guests watching the match. Kensington Palace marked the conclusion of the tournament Monday with a post on the couple’s official Instagram account featuring several photos of Kate, William and their children from the weekend. “A weekend at Wimbledon. Congratulations to all the players and staff who took part in a remarkable fortnight of tennis,” the caption read.
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Kate’s presence at this year’s tournament extended beyond the two finals. She also made a surprise appearance at Wimbledon on July 2, handing out tickets to enthusiastic fans outside the grounds, an outing for which she wore a bright blue pantsuit with a white top underneath, brown heels and a statement ponytail. She additionally attended a second-round match earlier in the tournament. Kate has attended Wimbledon nearly every year since marrying Prince William in 2011, continuing her long-standing association with the tournament through her royal patronage role.
Prince George and Princess Charlotte have similarly become familiar faces at the tournament in recent years. George made his own Wimbledon debut at the men’s singles final in 2022, just before his ninth birthday, while Charlotte first attended in 2023, joining her parents and older brother in Centre Court to watch Carlos Alcaraz claim that year’s men’s title.
Kate’s Wimbledon appearances followed a period of heightened public activity for the princess more broadly. In late June, she took part in the UK’s National Three Peaks Challenge, a demanding trek across the highest peaks of England, Scotland and Wales, sharing reflections on the personal significance of the effort in an Instagram video posted June 28. “Lots of people have asked me why I’m doing this challenge and partly it’s personal,” Kate said in the video. “I’m so grateful to be here, to be strong enough to walk these hills. But more importantly it’s to give something back.”
Kate’s Wimbledon schedule also unfolded against a broader backdrop of royal family news. Her Saturday appearance at the women’s final came just one day after King Charles hosted Prince Harry and met with Meghan Markle and their children, Archie and Lilibet, for the first time in years, a private family gathering that drew significant public attention in its own right. Kensington Palace’s announcement confirming Kate would attend the women’s final solo followed closely on the heels of that news, though royal commentators have not indicated any direct connection between the timing of the two events.
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Kate’s sister, Pippa Middleton, also made a rare public appearance at Wimbledon this year, attending a July 6 match in a floral print sundress and oversized sunglasses. Kate’s brother, James Middleton, separately shared on Instagram that he and his wife, Alizée, would attend the women’s singles final as well, posting a photo captioned, “Matchy matchy for @wimbledon.”
Kate, 44, has continued to gradually increase her public engagements over the past year following her 2024 cancer treatment and subsequent announcement that she had entered remission. Her extensive presence at this year’s Wimbledon, spanning a ticket-distribution appearance, a second-round match, both championship finals and the National Three Peaks Challenge within the span of a few weeks, has been noted by royal watchers as reflecting a fuller and more consistent public schedule than she has maintained in recent years.
As of this week, Kensington Palace had not announced Kate’s next public engagement following the conclusion of Wimbledon, though her continued patronage of the All England Lawn Tennis and Croquet Club is expected to bring her back to the tournament for its 2027 edition. For now, the princess’s back-to-back trophy presentations and family outings at Centre Court stand as one of the more prominent public moments of her summer schedule, capping a fortnight that saw the Wales family firmly back in the spotlight at one of Britain’s most closely watched annual sporting events.
Zelniker Dorfman Private Wealth Senior Vice President Ryan Lynch joins ‘Mornings with Maria’ to discuss AI-driven market gains, Q2 earnings, inflation and what could influence the Federal Reserve’s next interest rate move.
United Airlines on Tuesday unveiled a new economy offering on its new Airbus A321XLR aircraft that will give passengers some extra elbow room access to a shared table across an open middle seat.
United said the new Economy Plus offering will be available for bookings starting later this year, with the feature expected to be included on all 50 of the A321XLR jets it ordered from Airbus. It added that it’s exploring ways to offer seats like these on other aircraft in its fleet in the future.
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The company said in its announcement that it expects it will be the only airline offering this seating option, which builds off the recent announcement of the United Relax Row that will debut in early 2027 and feature multiple rows of seats on the Boeing 787 and 777 wide-body aircraft that convert into a couch.
The new middle seat configuration on a United Airlines A321XLR jet. (United Airlines / Fox News)
“We’re investing nose-to-tail across our fleet and giving customers choice and value in every cabin,” said Andrew Nocella, United’s chief commercial officer.
“The XLR is our newest aircraft and not only offers all-aisle access lie-flat seats in United Polaris but now also includes seats in Economy Plus with extra leg and elbow room.”
A United Airlines Airbus A321 jet departs a gate at Denver International Airport March 23, 2026, in Denver, Colo. (Al Drago/Getty Images)
Each United XLR will have large, custom-designed tables that stretch from armrest to armrest over the vacant middle seats, giving the passengers seated in the window and aisle seats more space to stretch out.
The table is permanently fixed and will have a soft leather-like cover and two indentations for cups. The extra space with the vacant middle seat is in addition to the three additional inches of legroom offered in Economy Plus seats on the aircraft.
United plans to start using the A321XLR on domestic flights this fall and for international short- to medium-haul routes starting by early 2027.
The Airbus A321XLR has 32 premium seats — 16 more than the Boeing 757s it will be replacing in the United fleet — including the new United Polaris suite that has all-aisle access.
All seats have a large 4K OLED screen with Bluetooth connectivity, with screen sizes ranging from 19 inches in the Polaris suites to 16 inches in United Premium Plus and 13 inches in United Economy.
Additionally, all passengers have access to larger overhead bins that have space for roll aboard bags and a snack bar in the rear of the economy cabin. It will also operate with five flight attendants on most transatlantic flights as the 757 did.
Wells Fargo & Company (WFC) Q2 2026 Earnings Call July 14, 2026 10:00 AM EDT
Company Participants
John Campbell – Director of Investor Relations Charles Scharf – CEO & Chairman Michael Santomassimo – Senior EVP & CFO
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Conference Call Participants
Kenneth Usdin – Bernstein Autonomous LLP John McDonald – Truist Securities, Inc., Research Division L. Erika Penala – UBS Investment Bank, Research Division Ebrahim Poonawala – BofA Securities, Research Division Manan Gosalia – Morgan Stanley, Research Division Matthew O’Connor – Deutsche Bank AG, Research Division John Pancari – Evercore ISI Institutional Equities, Research Division Christopher McGratty – Keefe, Bruyette, & Woods, Inc., Research Division David Chiaverini – Jefferies LLC, Research Division Vivek Juneja – JPMorgan Chase & Co, Research Division Gerard Cassidy – RBC Capital Markets, Research Division
Presentation
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Operator
Welcome, and thank you for joining the Wells Fargo Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note that today’s call is being recorded. I would now like to turn the call over to John Campbell, Director of Investor Relations. Sir, you may begin the conference.
John Campbell Director of Investor Relations
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Good morning, everyone. Thanks for joining our call today where our CEO, Charlie Scharf; and our CFO, Mike Santomassimo, will discuss second quarter results and answer your questions. This call is being recorded. Before we get started, I would like to remind you that our second quarter earnings materials, including the release, financial supplement and presentation deck are available on our website at wellsfargo.com. I’d also like to caution you that we may make forward-looking statements during today’s call that are subject to risks and uncertainties. Factors that may cause actual results to differ materially from expectations are detailed in our SEC filings including the Form 8-K filed today containing our earnings materials. Information about any non-GAAP financial measures referenced, including a reconciliation of those measures to GAAP measures, can also be found in our SEC filings and the earnings materials available on
The Babcock-built weapon system will join the military’s operational fleet
11:07, 14 Jul 2026Updated 11:13, 14 Jul 2026
The final Jackal 3 vehicles have rolled off the production line in Devonport, Plymouth(Image: Babcock)
The final British Army Jackal 3 vehicle has rolled off the production line at Devonport Dockyard. Defence giant Babcock said it had completed the delivery of the weapon system, hailing the end of the programme as a “landmark moment”.
The company has built and delivered 123 Jackal 3 and Jackal 3 Extenda (E) vehicles, which were designed by Honiton-based engineering firm Supacat.
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The last vehicle to roll off the line was a six-wheeled Extenda variant, which will undergo testing before joining the British Army’s operational fleet.
Defence minister Lord Coaker said the Plymouth-built vehicles would give the UK military “one of the most capable” platforms available.
“The Defence Investment Plan reconfirms the vital role that land vehicles play in our armed forces’ capability – ensuring land forces can seize or defend ground in all environments and conditions,” he said.
“It is exactly this kind of collaboration between British industry and our armed forces that helps support local industry and demonstrates that defence is an engine for growth.”
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Louise Atkinson, chief executive, land and mission systems, said the programme demonstrated Babcock’s “commitment and expertise” to delivering high-quality military vehicles to the armed forces.
“This critical programme required a large amount of collaboration, and I’d like to thank everyone for their tireless work in making it a success,” she said.
The first Jackal 3 E vehicles for came off the production line at Devonport in December last year. The variant has an extra axle that will allow it to carry a heavier load even while off road.
The completion of the programme builds on the delivery of the initial 70 Jackal 3 vehicles to the British Army.
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“This achievement is testament to the strength of our enduring partnership with Babcock and Supacat,” said Major General Lizzie Faithfull-Davies CB CBE, director land environment, national armaments – material.
“Their responsiveness, engineering expertise and collaborative approach has been central to delivering a platform that meets operational needs while maintaining pace and quality. We look forward to continuing this close relationship as we develop and sustain capability into the future.”
The news comes less than a month after Babcock reported a rise in revenues for the full year and announced another £200m share buyback scheme.
The group posted revenues of £5.1bn – up eight per cent on a year earlier – driven by its nuclear and aviation divisions.
The Port of Dover has done “absolutely everything” to prepare for the summer getaway amid fears of more delays from new EU border checks, its boss said.
Doug Bannister, chief executive of the Kent port, said it was “very disappointing” a new Entry Exit System (EES) processing facility – built as part of a £40m investment – was not being used for cars because the technology had not been activated.
EES, rolled out fully in April, involves passengers having their fingerprints registered and photograph taken to enter the Schengen Area.
The port declared a “critical incident” in May half-term after waiting times reached four-and-a-half hours on a day with about 8,500 outbound vehicles.
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For most UK travellers, the process happens at foreign airports, but it is also carried out at the Port of Dover, Eurotunnel’s Folkestone terminal and London St Pancras railway station, which all have juxtaposed border controls.
Bannister recently told MPs the port would “face repeated episodes of severe congestion” this summer unless the EU permits more flexibility in EES, which had not happened.
Most schools in England and Wales break up for the summer holidays at the end of this week or early next week, while the academic year has already ended in Scotland and Northern Ireland.
The Port of Dover expects to have about 7,500 outbound cars on Friday, rising to nearly 10,000 on Saturday.
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The end of next week will be even busier, with about 10,500 outbound cars on both 24 and 25 July.
It was previously hoped many of these would complete their EES registrations at the new Western Docks facility, which is equipped with 84 kiosks to record biometric details.
But the French authorities have not switched the kiosks on, and no date has been set for when that will happen.
Conor McGregor turned to his Christian faith in the aftermath of a devastating, injury-forced loss at UFC 329, vowing to attend church and declaring unwavering confidence in God after his long-awaited return to the octagon ended just 69 seconds into the first round.
McGregor, 37, suffered an apparent knee injury almost immediately after his welterweight bout against Max Holloway began Saturday in Las Vegas, marking his first fight in five years. Referee Mike Beltran stopped the contest and ruled a TKO due to injury after McGregor was unable to continue fighting effectively.
In the hours following the loss, McGregor posted a series of messages on X reflecting on the sudden setback. “My head gasket is gone. Destroyed. I had no injury/injuries going into the fight. I was throwing kicks, planted and jumping, all throughout camp as well as backstage before the fight. This came out of nowhere. I am beyond dark here. I can only describe it as hell,” McGregor wrote early Sunday morning.
In a follow-up post, McGregor pushed back on speculation surrounding the injury while weaving in a reference to his religious faith. “I was so sharp and so ready for this fight I cannot believe what has happened. The talk of me being off while walking into the fight is nonsense. I was calm, ready, and confident. I am in shock what has taken place. The devil is literally staring at me right in front of my face here. I am not engaging,” McGregor wrote. He then committed to a specific next step. “I will be at church tomorrow,” he vowed. “I will overcome this. I will not be deterred. I will return.”
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In a third post shared on X, McGregor quoted the Nicene Creed in full, a foundational statement of Christian belief dating back to the fourth century, further underscoring the religious framing he applied to processing the sudden defeat.
McGregor followed through on his commitment, sharing details of his church visit in an Instagram post published Monday. “Church was intense today, my heart is heavy but through Christ my mind is STRONG! I am so grateful to see my family fall more in love with God each day!” he wrote. McGregor went on to describe his faith as absolute. “I am thankful I get to prove it!” he added, before elaborating further on his outlook. “My lifestyle changes are permanent and not just until. I am thankful I get to prove it. I am in sin city and remain completely devoid of all sin. I will not open that door nor crack its seal! I am already back to collecting wins! In Jesus name I pray!”
McGregor continued the post with an extended reflection on his religious identity and outlook heading into recovery. “I am a child of God. I am a friend of God. God makes a way for me where there seems to be no way. I am not a victim of my circumstances; I overcome them. God is at work in me to will and to work his good pleasure! My youth is being renewed like the eagles! In Jesus I am thoroughly loved, cherished, adored. I walk in divine health. I live under supernatural protection. All things work out for my good! All things are possible for me because I am a believer!”
The post closed with McGregor laying out a practical roadmap for his recovery and eventual return to competition. “Surgery. Prehab. Return to martial arts practice. Go again. Final fight of the contract. Please God!” he wrote, followed by a final expression of trust. “I trust in You Lord! Show me Your way. Thank you God,” McGregor wrote, accompanying the message with an emoji of praying hands.
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While McGregor built his public profile primarily through his career in mixed martial arts, he has become increasingly outspoken about his Christian faith in recent years. Speaking at a Bare Knuckle Fighting Championship press conference last year, McGregor described how his religious commitment deepened following a previous UFC loss in 2021. “Since around that time that you mentioned, at the last event, I’ve engaged on a spiritual journey and I’ve been saved. I’m saved. I am healed,” McGregor said at the time. “I’m not here just by chance. There is a higher power, God, that dictates my journey and all of our journeys. And I live my life by God’s Word.”
That emphasis on faith has remained a consistent presence across McGregor’s public persona in the years since. The biography sections of both his X and Instagram profiles currently read, “Pray EVERYDAY!! #GOD #FAMILY #COUNTRY #TRUTH,” reflecting how central the theme has become to how he presents himself publicly, separate from his identity as a professional fighter.
UFC officials, including President and CEO Dana White, said ringside doctors suspected McGregor had suffered a torn ACL during Saturday’s bout, though the diagnosis was pending confirmation through imaging as of this week. The injury struck McGregor’s right knee, a different joint from the left ACL he tore during his original 2013 meeting with Holloway, a fight he went on to win by unanimous decision after recovering from that earlier injury in roughly 11 months.
Saturday’s loss marked McGregor’s second consecutive defeat and came in a bout that had been billed as one of the most significant comebacks in UFC history following his lengthy layoff since a leg break suffered in his 2021 trilogy fight against Dustin Poirier. Despite the setback, McGregor’s public statements in the days following the loss have consistently framed the injury not as a career-ending development but as a challenge he intends to overcome through both physical recovery and the religious conviction he has increasingly woven into his public identity in recent years.
Tehran said it had targeted US military facilities in Bahrain and Jordan after earlier hitting two United Arab Emirates tankers.
The ongoing strikes have underscored the strategic importance of the Strait. Iran accuses the US of interfering in its management of Hormuz – but controlling it means Tehran can also threaten the global economy.
Trump on Monday declared that the US was now the “guardian” of the Strait of Hormuz, and vowed to impose a 20% charge on all cargo shipped through the waterway to pay for protecting it.
Raising the stakes further, Trump said the US would also reimpose its naval blockade on Iran, in a bid to further squeeze the country’s struggling economy.
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US Central Command (Centcom) on Monday said that the US naval blockade on Iranian ports would be in effect from 16:00 Eastern Time (20:00 GMT/21:00 BST) on Tuesday.
But in his latest post on Truth Social, Trump wrote: “I have decided to replace the 20% United States Reimbursement Fee with Trade and Investment Deals that the various Gulf States will be making into the United States.
“Those Investments will be MASSIVE but, at the same time, extraordinarily good for them, and their future.” The US president provided no further details.
He also said that the Strait “is open to ALL Ship traffic except for Iran” and that “oil is flowing like never before, thanks to the awesome Power of the United States Military”.
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Speaking later after talks in Washington with the new Iraqi Prime Minister Ali al-Zaidi, Mr Trump said: “I don’t like the concept of a fee, but at the same time, it’s not fair that we’re protecting this Strait for the entire world.”
He said he had changed his initial fee plan after receiving numerous calls from Gulf leaders.
Meanwhile, shipping data shows traffic through the Strait has slowed to a two-months low. The benchmark Brent Crude oil price has also risen sharply.
Iran effectively shut down the waterway – through which some 25% of the world’s oil and 20% of global liquefied natural gas previously passed – after the US and Israel launched strikes against Iran on 28 February.
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In a separate development on Tuesday, Israel’s Prime Minister Benjamin Netanyahu warned that his country’s retaliation against Iran would be “much more powerful” if it is attacked first.
“I will say it to the leaders of Iran: Do not count on things remaining quiet if you attack us,” he said in a video published on his social media.
A Lucid Air electric vehicle (EV) at the company’s showroom in Tysons, Virginia, US, on Saturday, Feb. 17, 2024.
Samuel Corum | Bloomberg | Getty Images
Lucid Motor stock fell more than 40% at one point and trading was halted for volatility multiple times Tuesday amid speculation that the company is considering new options.
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A site focused on electric vehicles called EV reported Tuesday Lucid was considering going private or filing for Chapter 11 bankruptcy protection. According to the site, the company asked AlixPartners to review those options and deliver its findings to Lucid’s board before its next meeting.
The report from EV also said AlixPartners had encouraged the board to further restructure in the U.S. and Europe and to focus on the Gravity SUV.
AlixPartners said it had no comment on the report. Lucid said in a statement that “the rumors are completely false.”
“The company has sufficient liquidity to carry its operations well into next year, as recently published in its last quarterly filings, and it has not formed any special Board committee to explore the scenarios reported today,” the company said in a statement.” Our focus is on improving execution, strengthening operations, and positioning Lucid to realize the full potential of its technology, products, and innovation. AlixPartners is assisting us in that and nothing else and has not recommended bankruptcy to management or the Board.”
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Lucid has been facing an increasingly challenging market amid slower-than-expected adoption of EVs and changing regulations under the Trump administration,including the elimination of a $7,500 federal incentive for purchasing an EV.
The EV maker, which is heavily backed by Saudi Arabia’s Public Investment Fund, said last month that it was laying off 18% of its U.S. workforce as part of a cost-savings plan.
The company’s new CEO Silvio Napoli announced a shake-up of the company’s leadership team at the time to “simplify the company’s structure.”
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Lucid in May suspended its production guidance as Napoli said he would be evaluating the company’s business decisions, adding that it needs to lower its “elevated inventory” of vehicles.
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