Good morning. On Fortune’s radar today: - Markets: Post-rally selloff underway. - Iran: It’s not going well. - David Zaslav’s $887 million golden parachute. - $1 trillion: The amount of capex needed to make AI work. - Kalshi trading volume hits $3 billion a week. - Live map shows ships avoiding the Strait of Hormuz. THE MARKETS Taking the gains from the ceasefire Oil was at $97 per barrel and movi...