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1 revisions for "Oil Shock Sends Wall Street Reeling: How a War in the Middle East Is Crushing Banks, Airlines, and the American Economy"

#1
Anonymous25 days ago

A geopolitical crisis triggered by U.S.-Israeli strikes on Iran has sent crude oil past $100 a barrel for the first time since 2022, hammering airline and bank stocks while raising the specter of 1970s-style stagflation. With the Strait of Hormuz effectively shut to commercial shipping, the U.S. economy faces a dual blow of surging energy costs and a labor market that shed 92,000 jobs in February—forcing the Federal Reserve into a policy straightjacket with no easy escape.