Thursday Afternoon Links

[CNBC] Stocks retreat from records as software shares slump, oil jumps: Live updates

[AP] Live updates: Trump orders US military to ‘shoot and kill’ Iranian small boats choking Strait of Hormuz

[CNBC] U.S.-Iran war evolves into naval standoff over Strait of Hormuz after both countries seize ships

[Reuters] Iran fast-boat swarms add to Hormuz threats for shipping

[AP] Southern US wildfires force residents to flee, leaving them unsure if their homes are standing

[Bloomberg] US Business Activity Expands While Prices Rise Most Since 2022

[WSJ] U.S. Airlines Raise Fares, Trim Capacity for Summer as Fuel Costs Jump

[WSJ] Canada’s Carney Says He’s Prepared to Wait on Trade Talks Until U.S. Addresses ‘Irritants’

[FT] White House accuses China of ‘industrial-scale’ theft of AI technology