Brazilian President Lula said negotiations are not prohibited, but Brazil will not lament products that cannot be exported to the US and will seek alternative markets.

European stocks closed sharply lower on July 23 (Thursday): Germany's DAX fell 419.90 points (-1.67%) to 24,754.20; the UK’s FTSE 100 dropped 77.81 points (-0.73%) to 10,639.16; France's CAC 40 slid 138.80 points (-1.64%) to 8,299.09; the STOXX Europe 50 lost 107.64 points (-1.70%) to 6,209.35; Spain's IBEX 35 fell 326.19 points (-1.67%) to 19,245.11; Italy's FTSE MIB declined 1,470.04 points (-2.78%) to 51,322.00.

US officials maintain the Strait of Hormuz is open, but major international commercial shipping has effectively stopped. CENTCOM says Iran has attacked commercial vessels more than 30 times since the current round of hostilities began. Bahrain-based maritime information center data showed transits through the strait fell to a near three‑week low, with only three merchant ships tracked on Tuesday. Marisks’ CEO said US forces can provide only limited aerial cover and cannot guarantee safe passage, and shipowners and crews are largely unwilling to risk transit. Iran-backed Houthi threats to block Saudi exports via the Red Sea are extending shipping risk toward the Bab al‑Mandeb.