Daily News Summary – 2026-05-31 – 2

841 passengers were stranded overnight on two Trenitalia high-speed trains in France due to technical failures. Passengers endured up to 14 hours without adequate water, light, or functioning toilets.

President Trump will headline the Great American State Fair's opening ceremony after several major artists withdrew, citing political ties. Trump announced he would replace the performers himself.

The U.S. military carried out another strike on a suspected drug-smuggling vessel, killing three men and pushing the overall death toll above 200 since September 2025. No public evidence was provided.

Belgium experienced severe thunderstorms with hailstones up to 5 cm, causing widespread damage to cars, greenhouses, and garden furniture. Emergency services received over 300 calls.

The FAA grounded SpaceX's Starship V3 after a booster failure during its maiden test flight. The grounding comes as SpaceX prepares for a landmark IPO.

The Trump administration launched Project Vault, a $12 billion public-private initiative to establish the U.S. Strategic Critical Minerals Reserve to counter Chinese dominance.

In April 2025, China imposed export licensing controls on four heavy rare earth elements, triggering price spikes and a global scramble for alternative supply chains.

Demand for lithium, rare earths, cobalt, and copper is set to multiply four to six times by 2040, making critical minerals the defining resource competition of the decade.

The February 2026 closure of the Strait of Hormuz triggered the largest oil supply shock in history, with Brent crude surging 65% and 10.1 million barrels per day shut in.

Daily ship transits through the Strait of Hormuz fell from 130 to just 6, representing the largest disruption to world oil markets in history.

The closure of the Strait of Hormuz has triggered the largest disruption to global oil markets, with cascading impacts on fertilizers, food security, and supply chains.

Global energy investment surpassed $3.3 trillion in 2025, with AI data centers emerging as the largest new driver of electricity demand, projected to consume 1,000 TWh in 2026.

China imposed a new wave of 2026 export controls on rare earths, requiring licensing for key elements and threatening extraterritorial provisions.

The United States launched FORGE, a 54-nation trade-and-investment bloc to break China's stranglehold on rare earth and cobalt refining.

The global stablecoin market is undergoing a historic transformation as the EU's MiCA deadline approaches and the US GENIUS Act establishes federal oversight.

The US dollar's share of global reserves fell below 57% for the first time since 1995, as central banks diversify into non-traditional currencies and gold.