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Indian Prime Minister Narendra Modi has urged Russia to end the Ukraine war and for a cessation of hostilities during his meeting with Russian President Vladimir Putin on the sidelines of the Shanghai Cooperation Organization summit on Monday. “Every day that the war continues, humanity takes a step backwards,” Modi said. Read the full story on CNBC: cnb.cx/4yaq0w1

A tanker was struck by three unknown projectiles while transiting the Strait of Hormuz on Monday, stoking worries that the Middle East conflict could once again escalate. The tanker was sailing in the southern shipping lane close to the Omani coast, the UK Maritime Trade Operations agency said in a post on Tuesday, Asia time. No casualties were reported. Iran launched an attack on two American bases in Jordan on Monday in retaliation for the U.S. attack on its Larak Island. American forces targeted two Iranian rocket launchers on Larak Island on Sunday, reportedly killing three, saying that Tehran intended to launch rockets carrying sea mines into the Hormuz Strait.

President Donald Trump on Monday said he struck new drug pricing deals with nine drugmakers to voluntarily sell their medications for less, building on his push to link the nation’s pharmaceutical prices to cheaper ones abroad. CNBC's Annika Kim Constantino explains. Read more: cnb.cx/4zVfs5R

Shares of fast-fashion giant Shein fell 7% as they began trading in Hong Kong on Tuesday. Shein’s Hong Kong debut comes after earlier attempts to go public in New York and London did not materialize. Click here to follow this breaking news: cnb.cx/4i5XcAg

A jump in oil prices after renewed hostilities in the Iran war is pushing bond yields higher, and mortgage rates are following suit. The average rate on the 30-year fixed loan jumped 6 basis points on Monday to 6.87%, according to Mortgage News Daily. That is the highest level since June 2025. It’s now up 12 basis points since Thursday and has risen more than 30 basis points in the last two months. More details: cnb.cx/4y7CggQ

Shares of fast-fashion giant Shein fell 7% as they began trading in Hong Kong on Tuesday. The Singapore-headquartered, company sold about 280 million shares in its initial public offering, raising around 13.60 billion Hong Kong dollars ($1.74 billion) after the final offer price was set at HK$48.56 per share, below the maximum offer price of HK$49.5. The IPO values Shein at around $26.5 billion, compared with its private market valuation of $100 billion in 2022.

The average rate on the 30-year fixed mortgage is now 6.87%. That rate is 12 basis points higher than it was Thursday and is being fueled by rising oil prices. CNBC's Diana Olick has the details. Read more: cnb.cx/4zPt4PK

David Ricks, Eli Lilly CEO, talks with CNBC about the company investing in technologies that “can really change other diseases the way we’ve changed obesity.” The company said on Monday it would acquire privately held Merida Biosciences for up to $2.88 billion in cash, strengthening its immunology portfolio with an experimental treatment for thyroid-related autoimmune conditions. Watch more of the interview: cnb.cx/4h3kplq

CNBC's Jim Cramer said Monday that August was a comeback month for stocks that had been battered by some of Wall Street's most powerful bearish narratives. His comments came on the final trading day of August. Several of the S&P 500's biggest winners in August spent months under pressure from concerns ranging from artificial intelligence disruption to slowing growth. Cramer said improving fundamentals helped challenge those fears and fuel sharp rebounds. Click here to read Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest smarter

September historically is the worst month of the year for stocks. So should investors be on high alert? CNBC’s Mike Santoli explains. Sign up now for the Market Memo newsletter if you're looking for deeper market context and actionable insights: cnb.cx/4gBTEDi