Global selloff in stocks as bond market enters ‘new era’ of risk

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ONE BIG THING The price of war: $33 billion and climbing The war with Iran cost U.S. taxpayers $33.4 billion through June, according to a new report from the Pentagon’s Lead Inspector General. “Iranian strikes damaged and destroyed hundreds of buildings and structures at U.S. bases in Kuwait, Bahrain, Qatar, UAE, Saudi Arabia, Iraq, Oman, and Jordan during the conflict,” the report states. “In addition, dozens of U.S. aircraft were destroyed or damaged during OEF [Operation Epic Fury].” The conflict also “resulted in strategic inventory shortfalls [of weapons] and revealed industrial base bottlenecks for munitions resupply,” it said. Fourteen members…

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