Good morning. On Fortune’s radar today:
- Trump has an “undeclared naval war” in the Strait of Hormuz.
- Oil goes up as the clock ticks down to the midterms.
- Markets: Mostly down.
- Chipmakers are vacuuming up hyperscaler cash.
- Tariff revenue is now close to zero.
- Is the K-shaped economy coming to an end?
- Wall Street is paying interns up to $86,000 for just 10 weeks work.
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This story was originally featured on Fortune.com
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