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Markets Drop, Oil Surges as Iran Talks Fail, Blockade Looms

Crime & justiceCrime
Fire truck in front of burning wooden house with high flames
Key Points
  • Stock markets fell and oil prices surged after Iran peace talks failed and a Strait of Hormuz blockade was set to begin.
  • OpenAI CEO Sam Altman's home was targeted in a Molotov cocktail attack, with a suspect arrested and charged.
  • A separate shooting incident occurred at Altman's home days later, with two people arrested and released without charges.

The Stockholm stock exchange dropped sharply at opening following the failure of Iran peace negotiations, with the broad index OMXSPI falling by 1.0% and the large-cap index OMXS30 declining by 1.1%. Oil prices rose nearly 8% to over $100 per barrel, trading at $101.50 early Monday morning. This volatility comes as a blockade of the Strait of Hormuz initiated by U.S. President Donald Trump is expected to take effect at 16:00 today, threatening global energy supplies and market stability.

A Molotov cocktail attack targeted the San Francisco home of OpenAI CEO Sam Altman before sunrise on Friday. According to statements from San Francisco police, a person tossed the incendiary device at the residence, with surveillance images showing the alleged assailant walking up the driveway with a flaming object and throwing it at the house. The device bounced off and caused no injuries, though it ignited part of an exterior gate before the suspect fled on foot. An OpenAI spokesperson confirmed the incident took place at Altman’s residence, and police said the attack occurred around 4am local time.

The suspect, identified by multiple reports as 20-year-old Texas college student Daniel Moreno-Gama, was arrested less than two hours later while allegedly attempting to break into OpenAI headquarters with a jug of kerosene, a lighter, and an anti-AI manifesto. According to a federal criminal complaint, Moreno-Gama traveled from his home in a Houston suburb to San Francisco to carry out the attack, and following the incident, a manifesto allegedly belonging to him was discovered warning of AI's apocalyptic consequences. Moreno-Gama, an anti-AI campaigner, had previously appeared on a podcast under a pseudonym to discuss his opposition to AI and reportedly mused about targeting tech CEOs in online chats. His parents issued a statement saying their son had recently suffered a mental health crisis, and federal and California state authorities have charged him with crimes including attempted arson and attempted murder, with potential penalties up to life in prison if convicted.

Just two days after the Molotov cocktail incident, San Francisco police arrested two people after they allegedly fired shots from a car outside Altman’s home just before 03:00 local time. Authorities released the pair from custody on Thursday and have not charged either with a crime, while the district attorney's office investigates further. Police have not commented on whether shots were fired at Altman or his home, and it remains unclear if anyone was injured.

The attacks occur amid heightened security concerns around OpenAI’s offices, which have faced threats and protests in recent months. In November, a man making violent threats to OpenAI's San Francisco headquarters briefly prompted an office lockdown. After leaving Altman's house, Moreno-Gama showed up at OpenAI headquarters around 5am, attempted to smash entrance doors with a chair, and told security he planned to burn the building down and kill anyone inside. OpenAI is cooperating with law enforcement as the investigation continues.

Altman and OpenAI have increasingly become targets for activists who warn about the risks artificial intelligence could pose to society, with this targeting being the most prominent attack so far against a person or business related to AI. Critics have raised alarm over OpenAI’s decision to collaborate with the U.S. Department of Defense, and a recent NBC News poll found that AI technology is viewed even less favorably than U.S. Immigration and Customs Enforcement. OpenAI said last month it was valued at $852 billion following a major funding round that raised $122 billion, but the company faces questions about whether it can generate sufficient revenue to cover high expenses despite having over 900 million weekly active users and about 50 million subscribers for ChatGPT.

Has underestimated the power of words.

Sam Altman, OpenAI CEO

Meanwhile, in Stockholm, a political protest was carried out in connection with Iranian exile prince Reza Pahlavi's visit to parliament, with dolls featuring faces of Ebba Busch, Jimmie Åkesson, and Pahlavi hung in nooses at Sergelstorg. A sign above the dolls read 'Genocidaires, executioners, and lackeys'. Pahlavi, the son of the last shah of Iran, is in Sweden at the invitation of the Sweden Democrats and Christian Democrats.

In Hungary, the weekend election outcome strengthened the country's currency to its highest level against the euro since April 2022, as Péter Magyar's social conservative party Tisza won a two-thirds supermajority in parliament while outgoing Prime Minister Viktor Orbán's party Fidesz failed completely. From a market perspective, the supermajority for Tisza is expected to further strengthen the currency as the party is anticipated to move closer to the EU.

Travel disruptions hit the Nordics as German airline Lufthansa canceled numerous flights, including to and from the region, due to a pilot strike over pay and pension disputes. The strike is expected to affect hundreds of flights over two days, with Sweden experiencing cancellations of Monday's departures to Düsseldorf, Frankfurt, Hamburg, and Munich from Arlanda Airport. Copenhagen Airport Kastrup is also affected with numerous cancellations.

Human rights concerns emerged as two organizations reported at least 1,639 people were executed in Iran last year. Concurrently, the U.S. government warns that Iran has carried out digital attacks against U.S. critical infrastructure.

In the United States, immigration enforcement agents from ICE are being deployed to over a dozen airports around the country, including New York, Atlanta, and Chicago. A WIRED analysis of DHS records identified dozens of specialized federal agents who used force against U.S. civilians during the largest known deployment of its kind in U.S. history. Quizlet flashcards found through basic Google searches seem to include sensitive information about gate security at Customs and Border Protection locations, and nonprofits run out of U.S. Border Patrol stations are selling 'operation'-themed coins that include a phrase popularized by the Proud Boys, potentially violating government rules.

Tech industry activism is gaining momentum in Seattle, where activists inside tech giants are leaning into grassroots fundraising and peer support as petitions and protests draw little response from executives. Meanwhile, the wearable device Ray-Ban Meta is becoming associated with pests like pickup artists and juvenile pranksters. The Department of Defense alleges Anthropic could manipulate AI models in the middle of war, but company executives argue that’s impossible.

A communication failure occurred in Minnesota, where messages sent to the FBI by an investigator with the Minnesota Bureau of Criminal Apprehension went ignored for at least two days, per records obtained by WIRED. Federal immigration enforcement agents usually won't talk to the media but will talk to independent journalist Karl Loftus.

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