Markets face Iran war, AI bubble, Fed rate hikes, SpaceX IPO surge

Futures tied to the Dow Jones industrial average fell 8 percent after Iran launched missiles toward Israel and U.S. forces shot down Iranian drones in the Strait of Hormuz. OpenAI, Anthropic, and Microsoft AI executives warned Congress that AI tools now enable rapid bioweapon design. The Federal Reserve is more likely to raise interest rates due to strong jobs data. SpaceX's upcoming IPO could trigger mass investor selling as demand surges.