Crypto News: US, Iran trade strikes

Good morning. The US and Iran trade attacks on tankers. A deadly Amazon cargo plane crash rattles Miami. And America’s white-collar workers feel stuck with nowhere better to go. Listen to the day’s top stories.

— Hellmuth Tromm

Market Snapshot
WTI crude oil futures	$91.52	+0.0%
S&P 500 Futures	7,718.00	-0.1%
Nasdaq 100 Futures	29,609.50	+0.1%
Market data as of 06:44 AM ET. Data is subject to provider delays.	Your watchlist

The US and Iran carried out tit-for-tat tanker strikes over the weekend, pushing oil prices higher. Goldman warned crude may surge to $120 a barrel if attacks on shipping intensify. Even so, Iran said a deal with Oman to manage shipping through the Strait of Hormuz is days away, while empty Qatari LNG tankers are heading back toward the Persian Gulf in a sign exports may resume. Global stocks fluctuated and bond yields rose as inflation concerns resurfaced, while US stock and Treasury cash markets were closed for Labor Day.

In Ukraine, a peace deal also remains elusive for now. Donald Trump envoys Jared Kushner and Steve Witkoff traveled from talks in Moscow to Kyiv, with territorial differences unresolved and Volodymyr Zelenskyy saying Ukraine is bracing for another tough winter.

The Amazon cargo plane. — The Amazon cargo plane at Miami International Airport.

An Amazon cargo plane overran a runway at Miami airport yesterday and burst into flames, slamming into multiple vehicles and killing at least five people, while temporarily halting flights during the busy Labor Day weekend. The accident stands to be the worst cargo-related crash since a UPS freighter went down in Louisville last year. Runway overruns account for about 20% of aviation accidents, but barriers designed to stop aircraft can pose risks of their own.

Senate Republicans head to Dallas later this week with midterm jitters mounting as Democrats see a widening path to the Senate. Trump’s job approval is at a low point, with living costs, the Iran war and a new trade fight with Canada adding to the GOP’s headaches. Texas, North Carolina and Alaska are now in play. Still, Democrats need a net four seats and face a GOP-friendly districting map, while Republicans hold a financial advantage.

Why Money Launderers Love $100 Bills

Over in Germany, Chancellor Friedrich Merz has a growing political headache. The far-right AfD won a record 44% in the state of Saxony-Anhalt amid growing public discontent, while support for Merz’s CDU collapsed. The AfD, parts of which German intelligence deems a constitutional threat, has tapped voter frustration with calls to curb migration, ditch climate policies and restore ties with Russia. Merz has warned the AfD would send Germany “into the abyss,” while business leaders fear its rise will deter investment.

Claim over 50% off before summer ends

As Q4 approaches, the rest of your year comes into focus. Prepare for whatever comes next with a Bloomberg.com subscription. Get your first year for just ~~$399~~ $170.

Offer expires September 11, 2026 11:59 PM EST.

Unlock more than 50% off

Deep Dive: No Way Out

As the nation celebrates Labor Day, many of America’s white-collar workers are feeling trapped in jobs they don’t like. And the alternatives aren’t looking much better.

The backdrop is bleak: pay gains are fading, confidence is at a record low and AI anxiety is spreading, but the quits rate is near a six-year low as confidence in finding something better evaporates.
The workplace has changed, too: pandemic-era remote work blurred boundaries, but now return-to-office policies, high-performance work cultures and cuts to employee perks are adding to the squeeze.
Layoffs have declined this year but are still jarring workers, with Uber cutting 3,300 jobs, Visa reducing its workforce and Starbucks shedding staff.
There are bright spots, though: entry-level workers and recent graduates are struggling more, while healthcare and construction are thriving and August payrolls beat expectations.

The Big Take

Workers install solar panels at the Fuendetodos II solar park in Villanueva de Huerva.

Spain’s renewables boom has cut power bills and put it on track to meet its 2030 targets. But its green-energy lead is at risk without a massive expansion of battery storage and the power grid.

Opinion

A “No Data Center!” sign — A demonstrator holds a sign during a protest against AI.

Data centers are deeply unpopular, and Gavin Newsom is considering signing several bills that would regulate them, Erika D. Smith writes. It’s time for the longtime ally of Silicon Valley to show what side he’s on.

More Opinions

Nia-Malika Henderson

Why Trump Isn’t Letting Go of the Kennedy Center

Ulrich Siegmund, leader of the Alternative for Germany party in the eastern state of Saxony-Anhalt

Chris Bryant

Germany Is In a Very Dark Place, and Time’s Running Out

Play Alphadots!

Our daily word puzzle with a plot twist.

Today’s clue is: Novel business negotiation?

Play now!

Before You Go

Tim Cook may have handed Apple’s corner office to John Ternus, but don’t expect him to disappear. A giant new pay package suggests the former CEO will still loom large, just as Apple gears up for its big Sept. 9 product launch.

A Few More