Australia's S&P/ASX 200 closed down 7.30 points, or 0.08%, at 8,728.40 on Wednesday, Oct 7.

1. Trump Says Iran Could "Destroy" Los Angeles and San Diego —At a campaign rally on the 5th, Trump said he would let Iran "destroy" Los Angeles, California's second-largest city, or San Diego, a major city on the US-Mexico border. He said, "It's a small price to pay to make the world safe and our country safe." 2. Signs Executive Order Temporarily Easing Restrictions on Tax-Free Diesel for Road Use—Trump signed an executive order temporarily suspending some federal restrictions on red-dyed diesel, allowing tax-free diesel, normally restricted to non-road use, to be used for road transport. 3. Accuses Iran of Being Responsible for Dubai Airlines Attack —Trump said on Monday that he "personally believes" Iran is responsible for the attempted hijacking of the Dubai Airlines passenger plane. However, Vance stated on the same day that there was no conclusive evidence of Iranian involvement; Netanyahu also said it was too early to draw conclusions. 4. Responding to the Reason for the Withdrawal of US Bombers from UK Bases —Trump stated that the US military withdrew bombers from RAF Fairford in the UK because the base faced a "specific threat," and the US "knows who issued the threat." He claimed the bombers were not withdrawn "without cause." He stated that the US decided to adjust the deployment after identifying the threat. 5. Criticizing the New York Times for "Tampering" with Photos to Deface Trump Family Hotels —Trump claimed that the New York Times manipulated photos of the beautiful exterior of the Doral Hotel in Miami, deliberately presenting it as badly as possible. He called them complete losers. 6. Announcing that Medical Device Manufacturer BD Will Invest $3 Billion to Relocate Production Lines Back to the US —Trump posted that Becton Dickinson (BD), one of the world's largest medical device manufacturers, has agreed to invest $3 billion to relocate production lines for critical medical products relied upon by US patients and hospitals back to the US.

The Iranian Revolutionary Guard reported that the Houthi rebels in Yemen repelled a large-scale military offensive launched by pro-Saudi forces in the Zubab region and successfully struck the assembled forces of the "Giant Brigade" and the "Homeland Shield Brigade." The Houthi forces currently control the Omri Mountains and the strategically important Omri base, located east of Muha and west of Taiz. The Houthi's latest policy, a no-fly zone over all Saudi airspace, has provoked strong resentment from Riyadh and further exacerbated their losses.