Trump declares economic warfare on Iran. And, SCOTUS to rule on White House ballroom

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The Trump administration is threatening more economic pressure on Iran to push it back into negotiations over the Strait of Hormuz. President Trump is calling the campaign an "economic D-Day." Treasury Secretary Scott Bessent said he will outline the new measures Monday.

President Trump during an event announcing the expansion of a foster care initiative in the Rose Garden of the White House on Aug. 20, 2026, in Washington, D.C. Finn Gomez/Getty Images hide caption

The Supreme Court will decide whether Trump can continue construction on his ballroom after the nonprofit group National Trust for Historic Preservation sued the administration. An appeals court ruled in the nonprofit's favor but paused its order until today. The nonprofit says Trump needs congressional approval for the project. The Trump administration argues the ballroom is essential to an "integrated military complex," including medical facilities, a drone port and bomb shelters.

Investors dumped stocks and bonds yesterday after government debt yields hit their highest level in nearly two decades earlier this week. The Trump administration tried unsuccessfully to calm markets. Here's why you should pay attention to the bond market .

A trailer of wild mustangs are transported to the temporary holding facility during the Bureau of Land Management wild mustang round-up in Piceance-East Douglas Herd Management Area in Rio Blanco County, Colo., on Aug. 5, 2026. McKenzie Lange/CPR News hide caption

U.S. officials manage the ever-growing population of wild horses on federal lands across 10 Western states by removing horses when their numbers exceed what the land can support. In rural Colorado, the Bureau of Land Management is using helicopters to capture about 1,000 horses. Many will be sent to controversial long-term holding facilities, and once separated, will likely never be together again. See photos of how the federal government thins the herd of wild horses .

Hannah Einbinder and Gillian Anderson in Teenage Sex and Death at Camp Miasma. MUBI hide caption