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The US military attacked Iran for a second day and Tehran retaliated against American allies in the Persian Gulf, raising fears of a return to war after little progress in efforts to secure a diplomatic outcome.US Central Command said on X about 90 targets were hit overnight — after 80 the previous day — “to further degrade” Iran’s ability to attack commercial shipping in the Strait of Hormuz. Iran reported strikes on the perimeter of a nuclear power plant and two railway bridges connecting the capital to the city of Mashhad, where former Supreme Leader Ali Khamenei is being buried on Thursday.

The Islamic Republic responded by targeting US bases in Bahrain, Kuwait and Qatar, according to the semi-official Iranian Students’ News Agency. Jordan intercepted eight Iran-launched missiles, according to that country’s state-owned TV.  

Today's episode features:

• Edward Fishman, Senior Fellow and Director of the Maurice R. Greenberg Center for Geoeconomics at the Council on Foreign Relations on Iran latest
• Aaron Mulvihill, Global Alternatives Strategist at JPMorgan Asset Management on mkt reaction to Iran/tech trade, IPO and earnings outlook
• Kurt Wagner, Bloomberg News Senior Technology Reporter  on Zuckerberg Sets ‘Aggressive’ Price With Meta’s Pay-to-Use AI
• Nancy Cook, Bloomberg News Senior National Political Correspondent on Democratic Infighting Puts Party’s Midterm Targets at Risk