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 Donald Trump's reversals accelerated on Monday amid the widening war begun by the US and Israel a month ago. The 79-year-old president oscillated between threats of further destruction of Iran's civilian infrastructure and unconfirmed claims of peace negotiations. All the while, the two attacking countries continued to bomb Iran and Lebanon, with thousands already killed and tens of thousands wounded, according to local authorities and United Nations-afiliated groups. The Houthis in Yemen joined Hezbollah in attacking Israel over the weekend, further expanding a conflict that increasingly centers on the Strait of Hormuz and limited tanker traffic there, thanks to Iran's stranglehold on the waterway. Meanwhile, Brent crude hovered around $114 a barrel. If the Houthis start attacking Red Sea shipping again, it could hit $140. In the US, rising gasoline prices added to ongoing complaints of an affordability crisis. It was a prominent issue for the millions of protesting Americans seeking Trump's removal from office. —David E. Rovella What You Need to Know TodayThose "No Kings" protests this weekend, held in hundreds if not thousands of cities and towns, included more than 8 million people, organizers said. If true, that would mean close to 2.5% of Americans turned out. It would also mean, organizers said, that it was the biggest mass demonstration in the country's 250-year history. Protests against Trump and his policies also were simultaneously held in cities in Europe. The focus of the US demonstrations was on the killings of three unarmed American citizens by immigration agents and the administration's deportation campaign, as well as its war with Iran and a host of other issues Trump opponents associate with increasing authoritarianism.  Large crowds demonstrated Saturday in "No Kings" rallies across the US and in Europe. Photographer: Jason Alpert-Wisnia/AFP/Getty Images When it comes to collateral damage from the US-Israel war with Iran, Europe is taking increasingly big hits. Most recently, tankers that were carrying diesel toward the continent have suddenly changed course—just as skyrocketing oil prices intensify competition for supplies. Four ships recently loaded diesel-type fuel in the US and started to cross the Atlantic. One was signaling Gibraltar while the other three were showing Amsterdam. Then they decided to make sharp turns, with one headed to West Africa and the others heading southeast. With markets deprived of millions of Persian Gulf barrels, fuel supplies are already under severe pressure in Asia, while oil traders and analysts have said Europe could soon face shortages. Blackstone is launching its first hedge fund for affluent individuals. And that could potentially mean you. (But don't be offended by the term some on Wall Street are using to refer to your holdings.) As the $1.3 trillion asset manager intensifies its push to bring alternative investments to doctors, lawyers and other professionals with "dumb money," its new fund aims to make relatively liquid bets (which means they can be easily sold) across an array of asset classes. These include credit, equities and so-called special situations—one-off events such as corporate spinoffs or supply-chain disruptions. The trillions of dollars sitting in the accounts of everyday investors and so-called mini-millionaires have become a holy grail for alternative asset managers, which have been searching for sources of capital beyond their traditional base of institutional backers. So how do you qualify for this new fund? First, see if you have enough money. It's not all bad news today. The S&P 500 correction is nearing its final stage even as the Iran war continues, according to strategists at Morgan Stanley. They warn, however, that Federal Reserve interest-rate hikes still pose a threat to stocks. There is growing evidence the equities slide "is getting closer to its ending stages," the team led by Michael Wilson said, citing the example of previous "growth scares" that were not accompanied by a recession or a rate hike.  What You'll Need to Know TomorrowFor Your CommuteMore from BloombergEnjoying Evening Briefing Americas? Get more news and analysis with our regional editions for Asia and Europe. Check out these newsletters, too:
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