U.S. stock markets erupted Friday after Iran declared the Strait of Hormuz “completely open” after agreeing to a 10-day ceasefire with Israel and the U.S., effective on that day.
Tag: U.S. Economy
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DOMESTIC OIL SUPPLY BUFFERS U.S. AS PRICES SOAR IN ASIA, EUROPE
Since the Iran War began, U.S. crude oil prices have largely remained below those of Brent crude, which sets world oil prices.
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U.S. INDUSTRIAL PRODUCTION DECLINED IN MARCH
U.S. manufacturing, mining, and utility output fell by 0.5 percent in March from February, according to U.S. Federal Reserve data, surprising economists who had expected a 0.1-percent increase, according to a Reuters poll.
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ECONOMIC UPDATE
Since Israel and the United States launched the Iran War on 28 February, the global economy has shifted from bad to worse.
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IRAN WAR RAISES THE ODDS OF A U.S. RECESSION
In February, Mark Zandi, chief economist at Moody’s Analytics, had placed the chance of a recession in the U.S. this year at 49 percent.
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USED EV SALES ZOOM IN U.S. AS IRAN WAR CONTINUES
During this year’s first quarter, used EV sales in the U.S. jumped 12 percent, year on year, and 17 percent compared to the previous three months, the Financial Times reported.
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GOING OUT OF BUSINESS TRENDS
This week brought fresh signs of economic strain as an increasing number of businesses – from small local operators to well-known brands –announced closures, restructurings, or bankruptcy filings.
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INVESTORS FLEE JUNK BONDS
During the 30 days ending 6 April, investors yanked an average of $2.7 billion a week out of the junk bond market, fleeing to defensive positions as the Iran War’s economic fallout makes risky holdings even more so.
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SALES OF EXISTING HOMES DROP TO NINE-MONTH LOW
In March, U.S. sales of existing homes fell 3.6 percent, year over year, to 3.98 million, the slowest pace since June 2025, the National Association of Realtors (NAR) reported.
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CONSUMER SENTIMENT DROPS TO RECORD LOW IN NEW SURVEY
American consumers’ view of the country’s economy is worse than it has ever been, according to the University of Michigan’s latest monthly survey.