Day: November 5, 2026
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The Nasdaq and chip stocks were hammered, with Nvidia among the biggest losers.
South Korea’s largest U.S.-listed ETF fell even harder than Seoul’s market, while the main index is already far below its June peak.
SK Hynix and Samsung have also fallen sharply. Many Korean retail investors are exposed through margin loans, leveraged ETFs, savings, and retirement accounts.
Seoul opens in a few hours, and the fallout from Wall Street’s selloff could be just beginning.
Writer: Lucas x.com/TGLetter/status/211846…
Video
An attached production schedule lists seven Russian customers and two foreign buyers for these kind of launchers, with China being named as one of them, ordering 192 APU-305s, while the other buyer, later identified as Iran but at the time only as “K-10,” ordered 90 APU-Ls.
One contract for Yak-130 jet trainers and light attack aircraft also seen by the Financial Times explicitly identifies the buyer as “K-10, Iran”. Another, a 2023 production schedule from a subsidiary of Russia’s state-owned defence conglomerate Rostec, lists six Yak-130s destined for K-10.
Before the war, about 20% of the world’s traded nitrogen fertilizer passed through the strait.
Phosphate is up 29%, potash 17%, and diesel nearly doubled in Kansas and rose 80% in Texas.
Farm bankruptcies were already up 46%, with some Iowa families now facing foreclosure.
The $8B payout announced before the election doesn’t change the cost of the next fertilizer order.
Those higher costs reached the farm gate before they reached the ballot box.
Vance blamed the war for Republican Senate losses, while Rubio continues defending the decision as the price of leadership.
The political split is no longer private, but farmers are still paying the bill.
Writer: Lucas x.com/WhaleScan/status/21183…
Video
Trita Parsi, executive vice president of the Quincy Institute, says the confidence Trump carried into February has given way to frustration, with JD Vance going even further in tying the war to the losses.
Trita says Trump now sees Tehran’s strategy as personal:
“He believes that the Iranians have deliberately dragged this out to destroy his presidency.”
Decisions made in that frame of mind tend to be the hardest to walk back, which makes the next few weeks the most dangerous stretch of the war so far.
@tparsi
Video
Mario Nawfal (@MarioNawfal)🇺🇸🇮🇷 Trump’s midterm DEFEAT may have made another war with Iran MORE LIKELY, not less.
I spoke with Trita Parsi as reports emerged of senior U.S. military officials arriving at the White House, while Iran was reportedly sending a new nuclear proposal through Qatar.
Two very different possibilities, and Trita is increasingly worried about which one Trump might choose.
He believes the president is furious that Iran managed to turn the war into an economic crisis for ordinary Americans, helping deliver a devastating Republican defeat.
And that anger could make another strike MORE likely.
There’s also a shrinking window. Once the new Congress takes office, Democrats could make funding another war considerably harder.
But Trita raised a point I hadn’t fully considered.
Even if Trump orders a LIMITED strike, Iran may refuse to keep the response limited. Tehran believes absorbing American attacks only encourages Washington to try again.
We also discussed a possible diplomatic breakthrough involving Iran’s enriched uranium and the sequencing of a temporary U.S. blockade suspension.
Trita thinks there’s room for compromise, but not much time.
And he believes the midterms revealed something bigger than Trump’s political collapse.
Americans on BOTH sides are increasingly willing to punish politicians who promise to avoid foreign wars and then drag them into one.
The question now is whether Trump understands that message before making his next move.
@tparsi
Video
— https://x.com/MarioNawfal/status/2118458234998800582

