European Commission spokesperson says it has received an incident report from OpenAI.

Switzerland August non-seasonally adjusted unemployment rate 3.0%, prior 3.0%.

After six months of conflict-driven market volatility, U.S. maritime blockades and tighter sanctions have materially curtailed Iranian oil exports and access to foreign exchange, leaving Tehran under one of the gravest economic squeezes in its history, according to Iranian and regional sources. U.S. and regional officials judge the pain could compel Iran to allow free navigation through the Strait of Hormuz, arguing Iran’s economic losses now exceed the disruption it can inflict. Measures to choke exports have reduced government revenue, and Tehran’s attempts to disrupt shipping have not triggered a sustained global shock: oil markets have re-priced and alternative supplies continue to flow. Iranian analyst Arash Aziz says the balance has tilted slightly against Iran—Tehran cannot fully close the strait and U.S. maritime pressure is having an effect. It is unclear whether the pressure will force concessions; Tehran has not abandoned its demands, but mediators are reportedly discussing a new proposal to break the impasse.