World Digest — 26 Oct 2026

The escalating US-Iran standoff continues to dominate markets and geopolitics. Bitcoin slid below $⁠80,000 as the United States evacuated non-emergency staff from embassies across the Middle East on intelligence warnings of imminent Iranian attacks. Iran’s Revolutionary Guard responded by taking its “self-sacrifice” mobilisation campaign nationwide, filling squares in all 31 provincial capitals. The tension also hangs over the UK’s cabinet split on the Rosebank oilfield, where energy security and climate commitments are pulling in opposite directions. At least 20 people were killed when a war-damaged Gaza building collapsed, adding to the humanitarian toll.

Major political shifts reshaped two countries on Sunday. Brazil’s Luiz Inácio Lula da Silva won a historic fourth term, overcoming a first-round deficit to defeat Flavio Bolsonaro — though Bolsonaro reportedly refuses to concede. In Serbia, long-time leader Aleksandar Vučić conceded defeat to a student-backed movement after two years of protests triggered by a 2024 railway disaster. In the United States, President Trump escalated anti-Muslim rhetoric, urging Michigan voters to oppose Senate candidate Abdul El-Sayed.

In the UK, over 10,000 complaints about crypto banking restrictions in three months reveal a gap between the government’s ambition to be a global crypto hub and the reality of blocked transfers. Block’s new voice AI, Dessa, sounds eerily human, sparking awe and fears of phone scams. SpaceX closed a 40 billion debt deal to purchase GPUs for AI computing. Meanwhile, an Apollo economist argues AI has delivered zero financial payoff to most companies.

On markets, stock futures climbed ahead of the Federal Reserve’s policy decision on Wednesday. Strategy and Strive face a tight squeeze as bitcoin’s slide tests their preferred stock dividend model. Goldman Sachs slashed its Kospi target by 25% but still sees over 60% upside for Korean equities. The world’s ageing crisis threatens pension systems globally, with asset managers warning of a “ticking time bomb.”

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