Daniel Bach

U.S.

Central Command says four of six American crew members have died after an Air Force refueling plane crashed yesterday in Iraq.

Initial reports suggest the KC-135 Stratotanker was involved in a mid-air collision with a second plane that landed safely.

The U.S.

military said the crash was not due to hostile or friendly fire.

Meanwhile, oil prices remain above $100 a barrel despite U.S.

efforts to boost global supplies by allowing countries to purchase sanctioned Russian crude already at sea.

Treasury Secretary Scott Besant said the U.S.

is also planning for the Navy to escort commercial vessels through the Strait of Hormuz when conditions allow.

And TikTok's Chinese parent ByteDance is ramping up its computing power outside of China, using Nvidia's top-of-the-line chips as part of its ambition to become a global AI leader.

We report that ByteDance could spend more than $2.5 billion on Nvidia Blackwell computing systems in Malaysia to meet rising AI demand from global customers.

ByteDance has ambitions to challenge Google, OpenAI, and other American companies with a range of AI applications for everyday users.

Asian stocks ended the day lower.

European stocks are also down in midday trading.

And U.S.

stock futures have edged lower ahead of the latest reading of the Federal Reserve's preferred inflation gauge due at 8.30 a.m.

Eastern.

And we have a lot more coverage of the day's news on the WSJ's What's News podcast.

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