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Live updates: Iran war news; US forces rescue missing F-15 crew member, Trump says CNNU.S. Rescues Downed Air Force Officer Deep Inside Iran, Trump Says The New York TimesUS military jets hit in Iran war are the first shot down by enemy fire in over 20 years AP NewsSecond crew member from F-15 downed in Iran rescued by U.S. forces AxiosTwo Planes Destroyed by U.S. During Rescue Operation WSJ
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U.S. Rescues Downed Air Force Officer Deep Inside Iran, Trump Says The New York TimesIran war live: Trump confirms rescue of US officer, says ‘we got him' aljazeera.comLive updates: Iran war news; US forces rescue missing F-15 crew member, Trump says CNNSecond crew member from F-15 downed in Iran rescued by U.S. forces Axios
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Satellite firm says it's indefinitely withholding Iran war images at US request The Times of IsraelUS satellite firm Planet Labs announces blackout on war on Iran images Al JazeeraU.S. Seeks to Limit Access to Iran Satellite Imagery, Company Says WSJ
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Live updates: Trump and Iran trade threats; search continues for US F-15 crew member CNNIran War Live Updates: U.S. Fighter Jet, a Missing Airman and Trump's 48-Hour Deadline The New York TimesMiddle East crisis live: US and Iran race to find missing pilot; Iran rejects Trump's ‘helpless' call to open strait of Hormuz The GuardianLive updates: US and Iran race to find missing crew member from downed military plane AP News
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Iran's closure of the Strait of Hormuz is disrupting economic activity across Asia and Europe. The U.S. may escape the worst effects, but it will not emerge unscathed.
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Gasoline prices have jumped about a dollar a gallon since the war with Iran began. And diesel prices are up even more. That's tough on truckers, fishermen, and just about everyone else.
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Wednesday's selling carried into Thursday as investors continued to take a risk-off approach to markets following the Federal Reserve's latest policy announcement.
The central bank issued its third jumbo-sized rate increase yesterday and set expectations that it will continue to hike rates over its next few meetings. However, the Fed is not alone in its aggressive stance. Several global central banks have increased their benchmark rates this week in an ongoing effort to tame inflation, including the Bank of England and Switzerland's National Bank, which earlier today issued 50 basis point and 75 basis point rate hikes, respectively. (A basis point is one one-hundredth of a percentage point.)
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"Global equities are struggling as the world anticipates surging rates will trigger a much sooner and possibly severe global recession," says Edward Moya, senior market strategist at currency data provider OANDA. "Most of these rate hikes around the world are not done yet which means the race to restrictive territory won't be over until closer to the end of the year."
The reaction here at home was a selloff in bond prices, which sent yields on government notes spiking. The 10-year Treasury yield surged 19.2 basis points to 3.704% - its highest level since early 2011 - while the 2-year Treasury yield spiked 12.1 basis points to 4.116%, its loftiest perch since late 2007.
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As for stocks, the tech-heavy Nasdaq Composite
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