Fresh coverage on the economy, markets, and the forces moving money.
Regional officials call the Strait of Hormuz Tehran’s key leverage, letting Iran raise global economic costs even after heavy losses in the U.S.-Israel conflict.
US stocks and bonds fell as Brent oil settled at $112.19 and the 10-year Treasury yield rose to 4.39%, while gold slid more than 10% for the week.
The Treasury Department temporarily lifted sanctions on Iranian oil at sea, letting cargoes loaded by March 20 sell to most countries through April 19.
March PMIs are expected to slip as the Middle East conflict lifts energy costs and weakens business sentiment.
Trump warned he would target Iranian power plants unless Iran fully opened the Strait of Hormuz within 48 hours.
Brent crude settled at $112.19 a barrel, the 10-year Treasury yield hit 4.39% and the S&P 500 fell 1.51% as markets weighed oil-driven inflation.
The U.S.-Israeli conflict with Iran choked Persian Gulf shipments and closed the Strait of Hormuz. Global oil prices jumped to levels not seen since 2022.