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Oil jumps to $100 per barrel and stocks sink worldwide with no clear end in sight for the Iran war
Business
AP

Oil jumps to $100 per barrel and stocks sink worldwide with no clear end in sight for the Iran war

  • By STAN CHOE - AP Business Writer
  • Updated

Worries about the war with Iran sent oil prices back to $100 per barrel and stocks sinking worldwide. The S&P 500 fell 1.5% Thursday and returned to big swings following a couple days of relative calm. The Dow Jones Industrial Average dropped 1.6%, and the Nasdaq composite sank 1.8%. The center of action was again the oil market, where the price of a barrel of Brent crude got as high as $101.59. Treasury yields climbed in the bond market on worries about higher inflation and fewer cuts to interest rates by the Federal Reserve.

San Mateo-Foster City IDs huge needs
Local News

San Mateo-Foster City IDs huge needs

  • By Ana Mata, Daily Journal staff

The San Mateo-Foster City School District approved its Facilities Master Plan Jan. 22, identifying over $524 million in immediate facility nee…

Slowdown in US hiring suggests economy still needs rate cuts, Fed's Powell says
National

Slowdown in US hiring suggests economy still needs rate cuts, Fed's Powell says

  • By CHRISTOPHER RUGABER AP Economics Writer
  • Updated

Federal Reserve Chair Jerome Powell says that a sharp slowdown in hiring poses a growing risk to the U.S. economy. Powell's comments Tuesday suggest that the Fed will likely cut its key interest rate twice more this year. Powell said in written remarks that despite the federal government shutdown cutting off official economic data, "the outlook for employment and inflation does not appear to have changed much since our September meeting," when the Fed reduced its key rate for the first time this year.

Colleges eye bond measure
Local News
Featured

Colleges eye bond measure

  • By Ana Mata, Daily Journal staff
  • Updated

A total of $818 million in facilities improvements has been identified at the San Mateo County Community College District’s three campuses and…