WSJ What’s News – AM Edition: Four U.S. Troops Killed in Iraq Plane Crash

Date: March 13, 2026
Host: Luke Vargas, The Wall Street Journal

Episode Overview

This episode covers the top breaking news stories for March 13, 2026, with a focus on intensifying U.S.-Iran tensions, the tragic loss of four U.S. Air Force service members in Iraq, changes to Russia oil sanctions, ByteDance’s strategic AI moves with Nvidia, surging U.S. employer health costs, and a quick look ahead to the Academy Awards. The discussion offers real-time analysis with insights from WSJ reporters and global correspondents.

Key Stories and Discussion Points

1. U.S.-Iran Tensions & U.S. Service Members Killed (02:17)

• Plane Crash:

  • Four U.S. Air Force members died in Iraq after a KC-135 refueling plane crashed, reportedly mid-air colliding with a second aircraft, which landed safely.
  • These are the first U.S. Air Force losses of the current conflict.
  • Mounting rhetoric as conflict enters its second week.

• Escalating Rhetoric:

  • President Trump posts on Truth Social:
    • “The US has unparalleled firepower, unlimited ammunition, and plenty of time.” (02:34, Trump via B)
    • Referring to Iranian regime: “Watch what happens to these deranged scumbags today.” (02:34, Trump via B)
  • Iranian National Security Official Ali Larajani responds:
    • “Starting a war is easy, but ending it won’t happen with a few tweets. We will not let off you until you accept your mistake and pay the price for it.” (02:56, Larajani via B)

• Israel’s Shift in War Messaging:

  • Early in the conflict, U.S. and Israel called for Iranian regime change.
  • New Tone: Now focusing on degrading military capability rather than regime change.
  • Anat Peled (WSJ Correspondent):
    • “It doesn’t seem like this is the moment to go for that [regime change]. … People are very scared in Iran. … The security forces are present on the streets. There’s threats. There’s just a lot of fear.” (03:34-04:26, E)

Notable Quote

• Anat Peled (WSJ):
  • “It’s very likely that Trump could end this war at any moment. He can be unpredictable, as we know, and Israel is fighting as if every day is the last.” (04:40-05:25, E)

Tension in Coordination

• U.S. told Israel not to repeat unapproved strikes on oil depots (04:40), highlighting emerging divergences between allies’ tactics.

2. U.S. Eases Russian Oil Sanctions (00:55–02:17)

• The U.S. Treasury allows limited purchasing of Russian oil already at sea until April 11 to curb global price pressure.
• Thomas Grove (WSJ):
  • “The priority in Washington is to make sure there’s enough oil on the market to keep prices low ... more important right now than preventing Russia from gaining additional revenues …” (01:33, D)
  • Confirms long-term sanctions remain but hints at re-evaluation if war and prices persist.

3. ByteDance, Nvidia, and the AI Arms Race (05:31–07:22)

• ByteDance (TikTok’s Parent) seeks Nvidia’s Blackwell AI chips outside China due to U.S. export controls:
  • “Central to the American and Chinese geopolitical competition is this contest over AI ... the best chips, these super powerful Nvidia chips cannot be sold directly to China.” (06:45, C)
  • ByteDance partners with Aolani Cloud to use Blackwell chips in Malaysia in a $2.5 billion arrangement.
  • This move helps ByteDance circumvent restrictions and fuel AI R&D (07:22).

Notable Context

• ByteDance owns five of the world's top 50 AI consumer apps (by monthly active users) per Andreessen Horowitz.

4. U.S. Employer Health Insurance Costs Surge (08:23–10:32)

• Companies face a 9.5% jump in health insurance expenses, the largest in 15 years.

• Jennifer Williams (WSJ Reporter):

  • “There are just higher prices for care, expanding use of services, and pricey prescriptions, including GLP1s used for both weight loss and diabetes.” (08:48, G)
  • “Executives are considering more significant action like self-insurance or more aggressively managing their prescription costs…” (09:18, G)

• Impact on Employees:

  • “I spoke with someone … about the tradeoffs that employees are also having to make, which is as extreme as do I buy my groceries or do I go see a doctor or buy prescriptions for my kids?” (09:59, G)

Notable Quote

• “Their [Costco’s] costs had increased more significantly and at a faster pace than sales, which was not something they tend to see.” (09:59, G)

5. Other Headlines (Market & UK Economy) (05:31–06:45)

• US Dollar: Hits a 3+ month high as global investors seek safety.
• Euro: Falls to a 7-month low.
• UK Economy: Unexpected stall in January; annual growth forecast now at 1.1%.

6. Academy Awards Preview (10:32–12:21)

• Discussion with producer Hattie Moyer:
  • Paul Thomas Anderson’s “One Battle After Another” cited as a must-watch.
  • “Sinners” starring Michael B. Jordan as twins — record 16 Oscar nominations.
  • “Secret Agent”: Brazilian low-budget film recommended for parents with little free time.
  • Guillermo del Toro’s “Frankenstein” described as true to the novel and easy to pause for family needs.
• Parental Warning: “Avoid ‘Hamnet’ if you’re a young parent—it’s the saddest film in the world.” (11:57, H)

Notable Quotes

• Thomas Grove (WSJ Correspondent):
  • “There is a whole universe of sanctions on Russia and Russian oil ... Those aren’t being lifted.” (01:33, D)
• Anat Peled (WSJ):
  • “Israeli officials basically think that the conditions are not ripe on the ground yet for regime change.” (03:34, E)
• Jennifer Williams (WSJ):
  • "Experts are saying that executives are considering more significant action like self-insurance or more aggressively managing their prescription costs.” (09:18, G)
  • “Tradeoffs that employees are also having to make...do I buy my groceries or do I go see a doctor or buy prescriptions for my kids?” (09:59, G)
• Luke Vargas (Host):
  • “I haven’t watched a single award nominated film ... My wife and I used to make a tradition of this. ... But we have a baby now. Maybe people can relate.” (10:44, B)

Important Timestamps

| MM:SS | Segment | |-------|----------------------------------------------| | 00:55 | U.S. eases Russian oil sanctions | | 02:17 | Iraq plane crash – 4 U.S. troops killed | | 03:34 | Anat Peled: Israel backs off regime change | | 04:40 | Split between U.S. and Israel tactics | | 05:31 | Market update: Dollar high, UK stalls, Apple | | 06:45 | ByteDance’s AI ambitions with Nvidia chips | | 08:23 | DHS shutdown, health insurance cost surge | | 10:32 | Academy Awards preview with Hattie Moyer |

Overall Tone & Takeaways

• The episode is fast-paced and urgent, mirroring the high-stakes news cycle, and offers a balance between quick-hit headlines and deeper expert analysis.
• The tone remains factual and analytical, with occasional moments of levity during the Oscars preview and personal anecdotes from the host.

Conclusion

This episode delivers a concentrated briefing on escalating geopolitical tensions, impactful domestic policies, global business maneuvers, and cultural highlights for the weekend listener.
For more detailed reading, listeners are directed to WSJ’s special coverage and reviews in the show notes.