2 storiessecurity
US conducts 'self-defence' strikes on Iranian targets amid ceasefire talks
On Monday, 26 May 2026, US forces conducted strikes on missile sites and vessels in southern Iran, citing self-defence against threats from Iranian forces, according to United States Central Command. The attacks targeted boats allegedly attempting to lay naval mines and missile launch sites. This military action occurred as Iranian negotiators arrived in Doha for high-stakes talks aimed at ending a three-month-long conflict between the United States and Iran. The strikes threaten a fragile ceasefire that began on 8 April 2026. Despite the escalation, oil prices fell below US$100 a barrel on Tuesday, with investors expressing optimism regarding a potential deal to reopen the Strait of Hormuz, which has been disrupted for three months. Simultaneously, US President Donald Trump is in Beijing for a two-day summit with Chinese President Xi Jinping, the first such visit since 2017, covering trade, artificial intelligence, and Strait of Hormuz tensions.
2 storiesmarkets
Trump and Xi hold summit in Beijing amid trade, AI, and Iran tensions
US stock markets rose on Thursday as President Donald Trump and Chinese President Xi Jinping commenced a two-day summit in Beijing, marking the first visit by an American president to China since 2017. The Dow Jones Industrial Average gained 0.8%, the S&P 500 rose 0.3%, and the Nasdaq Composite climbed 0.2%. Nvidia shares surged more than 2% following news that the US approved H200 chip sales to Chinese firms, although the long-term impact on export control policies remains uncertain. The summit agenda includes trade, artificial intelligence, and the Strait of Hormuz, with US CEOs including Elon Musk, Tim Cook, and Jensen Huang in attendance. Separately, Cisco shares jumped after reporting strong quarterly earnings and announcing a restructuring plan involving approximately 4,000 job cuts.