The Israeli military has launched targeted strikes in southern Lebanon, alleging that Hezbollah violated a US-brokered security arrangement.

U.S. State Department: U.S. Secretary of State Marco Rubio and British Foreign Secretary David Miliband discussed the importance of Europe playing a greater role in its own security.

The chairman of the U.S. National Transportation Safety Board said that an investigation is being considered into the loss of intervals involving President Trump's helicopter.

Alphabet (GOOGL.O) said on Wednesday it is making major changes to its AI leadership. DeepMind CEO Demis Hassabis will step back from primary management duties, become chairman of DeepMind and take a newly created Alphabet chief scientist role. DeepMind CTO Koray Kavukcuoglu will run day-to-day operations as senior vice president of the unit while retaining his role as Alphabet chief AI architect. Several Gemini model leads, including senior engineer Jeff Dean, have departed. Alphabet’s flagship Gemini model, originally slated for June, has not launched, raising investor concern that Google is trailing Anthropic and OpenAI, each of which has poached a Google AI talent this summer.

Google (GOOG.O) shares fell more than 3% after the company announced a leadership reshuffle at DeepMind. Demis Hassabis, head of Google DeepMind, will step down as CEO and become Alphabet's chief scientist and chairman of Google DeepMind. Koray Kavukcuoglu, Google DeepMind's chief technology officer, will head a new division.

The S&P 500 erased its gains after rising as much as 0.7%. The Dow Jones Industrial Average is currently up 0.8%, while the Nasdaq Composite is down 0.25%.