Bob Iaccino reviews early morning market action as stock futures and risk assets face downward pressure. He highlights rising geopolitical tensions, including threats to close the Bab-el-Mandeb Strait, and their impact on global markets. Iaccino breaks down declines across precious metals and energy, alongside a slightly stronger U.S. dollar. He also covers newly proposed U.S. Section 301 tariffs on 60 economies and outlines what traders should watch in the upcoming Beige Book release, key corporate earnings including Broadcom and CrowdStrike, and the upcoming slate of global economic data.