President Trump announced plans to declare the Strait of Hormuz a U.S. territory amid escalating tensions with Iran, where citizens face soaring inflation. In the U.S., cooling inflation and falling retail spending influenced stock market movements, while former Supreme Court lawyer Thomas Goldstein was sentenced to prison for fraud. Additionally, an American missionary kidnapped in Niger was released, and Dr. Anthony Fauci declined to testify again before a Senate subcommittee.