A mix of global political setbacks for the Trump-aligned right is unfolding alongside more fallout for Elon Musk's business empire.

• Brazil's Lula won a close, tense presidential election over right-wing Trump ally Bolsonaro, who is reportedly refusing to concede — a loss for the Trumpy political movement internationally.
• In Israel, the opposition is pushing for a treason investigation into Netanyahu, accusing him of risking a wider war with Iran just to delay elections and avoid his own legal troubles.
• Trump himself is leaning hard into campaign rallies just over a week before the US midterms, with advisers reportedly describing the events as an escape from his low approval ratings rather than real governing.
• Elon Musk keeps piling up risk: SpaceX just took on a large debt deal tied to AI chips, while Musk himself warned that over 200 "neocloud" companies face serious collapse risk, rattling related stocks.
• Oil prices dipped as traders weigh high gas prices denting demand against ongoing Middle East attack risks, with no real ceasefire progress despite repeated meetings.

Outlook: Expect more volatility as Brazil's result, Israel's political infighting, and the US midterms all play out within days of each other, with markets watching Musk's debt-fueled bets closely.