Fed official Hammack said businesses have shown strong resilience amid numerous changes.

Japanese Prime Minister Takaichi told Iranian President Pezeshkian in their third phone call that all vessels, regardless of nationality—including Japanese and other Asian ships—should be able to transit the Strait of Hormuz safely. She urged Iran to show maximum flexibility to reach a swift agreement and reiterated that de‑escalation through dialogue is essential. Japan, with limited domestic energy resources, is highly dependent on Middle East oil; prolonged regional disruption would raise downside risk to Japan’s economy and energy security.

Marvell Technology (MRVL.O) spiked in U.S. after-hours trading, rising as much as 16% before trimming gains to about 11.5% after NVIDIA CEO Jensen Huang said Marvell will be the next trillion‑dollar company.