An IMF official said AI-driven market adjustments will affect the real economy, but the magnitude and channels of impact will depend on specific circumstances.

The Islamic Revolutionary Guard Corps navy said on the 12th it struck a large tanker in the Strait of Hormuz after the vessel switched off its navigation systems and attempted to leave despite warnings. IRGC media said this was the third large tanker struck in two days while trying to exit the strait. The IRGC warned any merchant ship or tanker that cooperates with U.S. forces in the Strait of Hormuz or the Persian Gulf will face decisive action by its units.

Bank of England monetary policy committee member Greene said the turning point in global bond markets' tolerance for government borrowing is hard to predict and he will monitor it closely.