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Watch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Katie Greifeld, Bailey Lipschultz, Carol Massar and Tim Stenovec. Doubts that a ceasefire between the US and Iran may materialize any time soon sent stocks and bonds lower and oil higher. The S&P closed down 1.7% after President Trump told reporters that he could not commit to a deal with Iran. Brent rose to $108.

Shares of Meta Platforms (NASDAQ:META) fell more than 8% on Thursday following a landmark Los Angeles jury verdict that found the company, alongside Google parent Alphabet (NASDAQ:GOOGL) negligent in protecting young users from addictive platform designs.

Retired Rear Admiral and former White House national security communications advisor John Kirby said that the Pentagon has an 'obligation' to explain to the American people how their tax dollars and troops are being used in 'matters of life and death' to keep the country safe. Kirby, who also worked as the Department of Defense press secretary during the Biden administration, spoke out against the Pentagon's move to take press out of the building, saying that it isn't a good for the country or the department itself.

Retired Rear Admiral and former White House national security communications advisor John Kirby said that the Pentagon has an 'obligation' to explain to the American people how their tax dollars and troops are being used in 'matters of life and death' to keep the country safe. Kirby, who also worked as the Department of Defense press secretary during the Biden administration, spoke out against the Pentagon's move to take press out of the building, saying that it isn't a good for the country or the department itself.

Washington Democratic Representative Suzan DelBene said that Americans' anger about broken promises from the Trump administration is powering support for Democrats ahead of midterm elections as voters look for candidates who aren't going to be a 'rubber stamp' for Donald Trump. DelBene, who serves as chair of the DCCC, said that Democrats have 44 districts in play and are on 'offense' against Republican challengers.

Republican Senator from North Carolina Ted Budd said Congress will want more information about the administration's objectives in Iran but the president has to have flexibility and options to try to 'defang' the regime in Tehran. Budd, who serves on the Senate Armed Services Committee, said that the administration has expressed the 'broad strokes' of its goals for the Iran war to both the American people and lawmakers. Senator Budd also discussed ongoing negotiations on DHS funding, saying that Democrats have walked away from two different bills to fund DHS and pay TSA workers.

Max Layton, global head of commodities research at Citi, joins Scarlet Fu on "Bloomberg Markets." Oil rose on Thursday after President Trump threatened Iran with intensified military action, with the two sides seemingly far from a ceasefire in a conflict that has upended global energy market.

Investor interest in backing startups in foundational industries has been growing. Rachel Holt, co-founder and managing partner of Construct Capital, discusses why the firm has been focused on this area since 2020. She joins Caroline Hyde and Ed Ludlow on "Bloomberg Tech."

Bloomberg's Mandeep Singh joins Scarlet Fu on "Bloomberg Markets." Memory chip stocks extended their losses on Thursday after Alphabet Inc.'s Google publicized research on a new algorithm that could allow more efficient use of the storage needed for artificial intelligence development.

European Commission Vice President Kaja Kallas speaks to Bloomberg's Oliver Crook about finding a way to end the wars in Iran and Ukraine, fully reopening the Strait of Hormuz and making sure Ukraine has the help it needs to fight Russia. They speak in France ahead of the G-7 meeting.

Pernod Ricard is exploring a potential acquisition of Brown-Forman Corp., the owner of Jack Daniel's whiskey. Michelle Davis has more on "Bloomberg Markets."

President Donald Trump appointed tech industry leaders including Mark Zuckerberg of Meta, venture capitalist Marc Andreessen, and Nvidia CEO Jensen Huang to a new presidential technology council that will focus on artificial intelligence policy and other science-related issues. David Sacks, Craft Ventures partner and co-chair of the President's Council of Advisors on Science and Technology, joins Ed Ludlow on "Bloomberg Tech."