Good morning. The world braces for Iran’s response after the US strikes. The State Department warns Americans to be cautious. And the Oklahoma City Thunder are NBA champions. Listen to the day’s top stories.

The US airstrikes on Iran set markets and governments worldwide on edge, as the Islamic Republic vowed to retaliate and Israel showed no sign of letting up. Donald Trump has threatened further military action if Tehran doesn’t make peace with Israel. The fallout is just starting: the State Department issued a “Worldwide Caution” alert for US citizens, while some airlines are canceling flights to the Persian Gulf and Japan’s biggest banks are considering pulling their staff from the region. Keep up with the latest developments via our Live Blog.

Market reaction was generally muted but investors are piling into the dollar. Oil prices initially jumped before paring gains, while stock futures wavered as traders awaited Tehran’s response. Oil remains the primary focus as any interruption to traffic through the Strait of Hormuz raises the specter of a spike in energy prices. Already some tankers are avoiding the waterway. Read our explainer on why it’s so important for crude and natural gas.

On the attacks itself, the heart of operation “Midnight Hammer” was a feint. Here’s how the 37-hour mission unfolded, from using decoy B-2 bombers to deploying Tomahawk missiles. Read how independent analysis has yet to verify Trump’s claim that heavily fortified sites were obliterated. The attacks also exposed Iran’s vulnerabilities. Militia groups it armed and funded for years are unable to enter the fight, while Russia and China are offering only rhetorical support. But the country still has resources to inflict pain on the US and the world. Read our Big Take below.

In corporate news, Bank of New York Mellon approached Northern Trust about a possible merger in what may be a megadeal for the US financial services industry, the Wall Street Journal reported. Both firms offer services including custody of client assets, wealth and asset management and other banking business.

Tesla’s long-promised driverless taxi service is here, finally. The first robotaxi trips were limited to a narrow portion of Tesla’s hometown of Austin, with riders including investors and social-media influencers. Some investors are counting on new markets to revive Tesla following a sales slump and consumer backlash against Elon Musk.

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Deep Dive: Power Problems

Uber drivers with electric vehicles are facing a new challenge—not the cost of vehicles, but access to charging.

• Only just over a third of Uber’s current EV drivers in the US have a dedicated home charger. The share is even lower in Europe, at 27% in the UK and 13% in the Netherlands.
• Uber does have an ace up its sleeve. Its new sustainability head has brokered a partnership it expects will improve charging access for 55,000 drivers in London, Boston and Phoenix.
• It’s also rolling out a tool to help 40 cities decide on where to locate their next public plugs.

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The Big Take

Photographer: Morteza/NurPhoto/Getty Images

When the dust settled on Iran’s nuclear sites after a US bombing raid that Trump said had “totally obliterated” its atomic program, one thing was still missing: its highly enriched uranium, which international authorities haven’t seen for more than a week. Read the story.

Opinion

Fire and smoke rise into the sky after an Israeli attack on the Shahran oil depot in Tehran on June 15.  Source: Getty Images

Iran’s options include an unconditional surrender, salvaging and hiding its nuclear program, or a strategy involving closing the Strait of Hormuz, assassinations, and cyberattacks, James Stavridis writes. The county may want to “go big,” but it will probably aim lower: asymmetric attacks and targeted operations against US interests and citizens.

Before You Go

Andrew Nembhard of the Indiana Pacers plays defense against Jalen Williams of the Oklahoma City Thunder during Game Seven.  Photographer: Nathaniel S. Butler/NBAE/Getty Images

The Thunder are champions. The best team all season was the best team at the end, bringing the NBA title to Oklahoma City for the first time. Shai Gilgeous-Alexander capped his MVP season in style with 29 points and 12 assists to power the Thunder past the Indiana Pacers 103–91 in Game 7 of the NBA Finals.

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