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      Global Markets Dip as Traders Gauge Fallout From U.S. Strikes on Iran

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      Any disruption to traffic in the Strait of Hormuz would have significant economic effects, especially for Asian nations dependent on oil from the Middle East.Stocks edged lower and oil prices climbed in Monday trading in Asia, reflecting investor concern over potential economic fallout from the U.S. strikes on three Iranian nuclear facilities over the weekend.Futures contracts for the S&P 500, indicating how the index might perform when markets open in New York, slipped by about 0.3 percent. The price of West Texas Intermediate, the benchmark for U.S. crude, gained roughly 3 percent. Gold, a traditional safe-haven asset, also rose.Markets in Asia, the first to open after the strikes in Iran, were down. Stocks in Taipei, Taiwan, fell more than 1 percent. Benchmark indexes in Japan, Hong Kong and South Korea also dipped.Traders were waiting for clearer indications of whether there would be an escalation in conflicts in the Middle East — particularly any moves by Iran to disrupt shipping through the Strait of Hormuz.The Strait of Hormuz is a critical transit point for global oil supplies. Last year, about 20 million barrels of oil were shipped through the waterway each day, representing about 20 percent of the world’s total supply. Most of that oil was bound for Asia.Places like Japan and Taiwan rely on the Middle East for almost all of their crude oil imports, meaning that any disruption to traffic through the strait could inflict a large economic blow. China is the largest purchaser of Iranian oil.Oil prices, hovering around $76 a barrel, are expected to enter the $80 range, but if the risk of Iran blocking the Strait of Hormuz is seen as increasing, they will rise even further, said Takahide Kiuchi, executive economist at Nomura Research Institute. In that case, “the Japanese economy could be exposed to downside risks that exceed those of the Trump tariffs,” he said.Other analysts expect fallout from the U.S. strikes to be relatively short-lived.The oil market is better equipped to respond to shocks than it has been in the past because of spare capacity held by exporters, according to Daniel Hynes, a senior commodity strategist at ANZ Research. Geopolitical events involving producers can have a big impact on oil markets, but in recent years, prices have tended to quickly retreat as risks ease, Mr. Hynes said.Daniel Ives, an analyst at Wedbush Securities, said there could be more volatility in stock movements this week. But, he said, the market may view the Iran threat as “now gone.” In that case, he said, “the worst is now in the rearview mirror.”Joe Rennison More

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      Small Protests Against the U.S. Attack in Iran Sprouted Up Over the Weekend

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      The last-minute demonstrations drew hundreds of people in some cities, fewer in others. Many expressed displeasure with the Iranian leadership but were against any more U.S. involvement in another war.Protesters in more than a dozen U.S. cities demonstrated on Sunday against the Trump administration’s airstrikes on Iran.Some rallies attracted hundreds, while others drew dozens. The overall turnout was far less than last weekend’s “No Kings” protests against the president that were held in all 50 states. Many of Sunday’s demonstrations, held in cities including New York, Boston, Chicago, Washington and Los Angeles, were arranged late Saturday and had been described by organizers as “emergency mobilizations.”Demonstrators at several locations carried Iranian flags, and some held signs and placed banners across fences and buildings that read “No War in Iran!”U.S. Marines stand guard as a demonstrator protests in Los Angeles.David Swanson/ReutersOutside the gates of the White House in Washington, at least 200 demonstrators condemned the president, including some veterans. “He’s trying to become a king,” said Ron Carmichael, 78, who flew helicopters in the Vietnam War.In Chicago, more than 200 people attended a rally downtown. Ali Tarokh, a resident who said he immigrated from Iran 12 years ago after being imprisoned for political activities for two years, described the news of the airstrikes as “the worst thing that could have happened.”Although he opposes the Iranian leadership, Mr. Takokh said slow change was the only way to reform the government. “Regime change is kind of impossible over there,” he said, adding that President Trump and Prime Minister Benjamin Netanyahu of Israel have only impeded any transition to a democratic society.Some protesters said that the escalating conflict with Iran would further the suffering of the Palestinians in Gaza.In Los Angeles, Noor Abdel-Haq, a 26-year-old nurse, said she came out because of her personal ties to the tensions in the Middle East. Most of her family lives in Gaza or the West Bank, she said. “We don’t want more murder and destruction.”Ms. Abdel-Haq was among the scores of people who assembled in the Westwood neighborhood in a peaceful demonstration. Nearby, a small contingent of Marines and federal agents stood wearing tactical gear and carrying rifles.In 98-degree heat in Richmond, Va., Violeta Vega, 23, an in-home care worker and a leader of the Party for Socialism and Liberation in Richmond, led protesters at Abner Clay Park in chants that included “Money for jobs and education, not for war and occupation.”The crowd numbered in the dozens. After the rally, her voice raspy, Ms. Vega said the gathering was necessary.“I felt empowered knowing that this was a day of action around the country,” she said.Robert Chiarito More

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      Vote for Your 10 Best Movies of the Century

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      <!–> [–><!–> –><!–> [–><!–>In the space below, please list up to 10 titles that you consider to be the best films released since Jan. 1, 2000. Each movie should be feature length and released commercially. If you need a starting point, we have compiled our critics’ favorites from the last 25 years on one handy […] More

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      Judge Orders Abrego Garcia Released on Smuggling Charges Before Trial

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      The order to release Kilmar Armando Abrego Garcia from criminal custody as he awaits trial was a rebuke to the Trump administration. But he is likely to remain in immigration custody.In a sharp rebuke to the Justice Department, a federal judge said on Sunday that Kilmar Armando Abrego Garcia should be freed from criminal custody as he awaits trial on smuggling charges after his wrongful deportation to El Salvador and return to the United States.In a scathing order, the judge, Barbara D. Holmes, ruled that Mr. Abrego Garcia was neither a flight risk nor a danger to the community. The decision undermined repeated claims by President Trump and some of his top aides who have described the Salvadoran immigrant as a violent gang member, even a terrorist.But the decision by Judge Holmes, filed in Federal District Court in Nashville, was likely to be a short-lived victory for Mr. Abrego Garcia and his defense team. The judge acknowledged that he would probably remain in the custody of immigration officials, as his charges of smuggling undocumented immigrants across the United States moved through the courts.Judge Holmes’s ruling was the first judicial evaluation of the charges filed against Mr. Abrego Garcia since he was suddenly brought back to U.S. soil last month after prosecutors indicted him in Nashville. The decision to get him out of Salvadoran custody came as the Justice Department was under mounting pressure in a separate civil case. The judge in that case has threatened to hold administration officials in contempt for their serial evasions and delays in complying with her order to free him from El Salvador.Federal prosecutors immediately asked Judge Holmes to put the decision to free Mr. Abrego Garcia on hold, even as his lawyers hailed it.“We are pleased by the court’s thoughtful analysis and its express recognition that Mr. Abrego Garcia is entitled both to due process and the presumption of innocence, both of which our government has worked quite hard to deny him,” Sean Hecker, one of the defense lawyers, said.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      How Trump Decided to Strike Iran

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      Standing at the lectern in the White House briefing room on Thursday afternoon, Karoline Leavitt, the White House press secretary, read a message she said came “directly from the president.”Because of the “substantial chance of negotiations” with Iran that could bring the United States back from the brink of jumping into the war in the Middle East, President Trump’s statement said, he would make a decision about whether or not to strike Iran “within the next two weeks.”Mr. Trump had been under pressure from the noninterventionist wing of his party to stay out of the conflict, and was having lunch that day with one of the most outspoken opponents of a bombing campaign, Stephen K. Bannon, fueling speculation that he might hold off.It was almost entirely a deception. Mr. Trump had all but made up his mind to bomb Iran’s nuclear facilities, and the military preparations were well underway for the complex attack. Less than 30 hours after Ms. Leavitt relayed his statement, he would give the order for an assault that put the United States in the middle of the latest conflict to break out in one of the world’s most volatile regions.Mr. Trump’s “two weeks” statement was just one aspect of a broader effort at political and military misdirection that took place over eight chaotic days, from the first Israeli strikes against Iran to the moment when a fleet of B-2 stealth bombers took off from Missouri for the first American military strikes inside Iran since that country’s theocratic revolution in 1979.Journalists watching as President Trump addressed the nation after American bombs were dropped on Iranian nuclear sites on Saturday night.Anna Rose Layden for The New York Times More

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      Fred Smith, Billionaire Founder of FedEx, Is Dead at 80

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      His vision for how to ship packages overnight led to not just a new company, but also a new sector of the world economy and a now-familiar English verb.Frederick W. Smith, who bet everything he had on a plan to revolutionize freight transport, courting disaster early on but ultimately winning vindication in the form of power in Washington, billions in personal wealth and changes in how people all over the world send and receive goods, died on Saturday. He was 80.His death was announced by FedEx in a statement that did not provide further details.FedEx was conceived in a paper that Mr. Smith wrote as a Yale University undergraduate in 1965. He argued that an increasingly automated economy would depend on fast and dependable door-to-door shipping of small packages containing computer parts. He got a C.Today, FedEx employs more than half a million people and operates the world’s largest fleet of cargo aircraft. On an average day, the company ships more than 16 million packages in about 220 countries and territories.Like Google, FedEx created a new service that came to be seen as so essential that the corporate name is now a widely recognizable verb.Mr. Smith was celebrated as one of the great business minds and executives of his time.He was well prepared for the industry he helped create. He flew planes as a teenager and then served two tours of duty in Vietnam as a Marine Corps pilot. His father, formerly chairman of the Dixie Greyhound Lines, was known as the Bus King of the South.Aside from seeing the need for national overnight delivery, Mr. Smith’s greatest innovation was a hub-and-spoke system of routes. He based the sorting of packages in Memphis, where he found an unused airplane hangar. He flew his planes at night, when the skies were relatively empty.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Pedro Almodóvar, Sofia Coppola and 117 Other Famous Names Share Their Top Movies of the Century.

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      <!–> [!–> <!–> –><!–> –>and 73 more ballots from the over 500 voters who determined our list of the century’s best movies<!–> –> 100 Best Movies And more ballots from … actors  Naomi Ackie, Uzo Aduba, Casey Affleck, Joel Kim Booster, Daniel Brühl, Jemaine Clement, Richard Gadd, Tony Hale, William Jackson Harper, Naomie Harris, Sally […] More