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Fortune
Fortune
Jim Edwards

Iran is turning out to be a more effective enemy than many thought, and U.S. allies are losing their patience with the war

Donald Trump Iran United States Fortune Target Anthropic Block Gulf Inter Miami CF the Financial Times
Photo: US President Donald Trump during an event with Inter Miami CF in the East Room of the White House in Washington, DC, US, on Thursday, March 5, 2026. Inter Miami CF is visiting the White House to celebrate their 2025 championship win. (Credit: Yuri Gripas—Abaca/Bloomberg)

Good morning. In today’s Fortune:

  • Iran is a more effective enemy than many thought.
  • U.S. allies losing patience with Trump.
  • S&P 500 futures are down this morning, and the index is back in negative territory for the year.
  • Exclusive: Anthropic investors are split over response to Trump.
  • Exclusive: Target’s new CEO admits he’s got an uphill struggle.
  • Exclusive: Block CFO explains why the company cut half its staff.
  • U.S. tax refunds are up 10%—less than expected. 
  • Wall Street predicts boffo box office.
  • Don’t mention the war!
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