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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.

Trump plans to announce that the US will call the Persian Gulf the Arabian Gulf, officials say
National

Trump plans to announce that the US will call the Persian Gulf the Arabian Gulf, officials say

  • By MATTHEW LEE AP Diplomatic Writer

President Donald Trump plans to announce next week that the U.S. will refer to the Persian Gulf as the Arabian Gulf or the Gulf of Arabia. That's according to two U.S. officials who spoke to The Associated Press on Tuesday on condition of anonymity to discuss sensitive matters. Trump is traveling to Saudi Arabia next week. Arab nations have pushed for a change to the geographic name of the body of water off the southern coast of Iran, while Iran has maintained its historic ties to the gulf. The White House and National Security Council didn't immediately respond to messages seeking comment.