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Trump Says Iran Agreed to Allow 20 More Ships of Oil Through Strait of Hormuz The New York TimesTrump reveals 'present' from Iran, confirms estimated timeline for war Fox NewsSeth Meyers on Donald Trump's ‘present' from Iran: ‘Is the president getting catfished?' The GuardianTrump says Iran gave US 20 boats of oil 'out of a sign of respect' Anadolu Ajansi
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Investors digested increasing signs of escalation of the U.S.-Israeli war in Iran, which has led to a blockage of critical energy supplies.
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Oil Gains as Iran War Escalates With Houthi Attacks on Israel Bloomberg.comThe Iran war has a new front in Yemen. Here's how it could escalate YahooOil Jumps to $116 a Barrel on Signs of Escalation of Middle East War The New York TimesSouth Korea stocks fall 5%, leading regional declines as Middle East war enters fifth week CNBC
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Oil prices jump after Yemeni Houthis attack Israel, widening Iran conflict ReutersOil surges 3% as Iran war escalates with Yemen's Houthis entering the Mideast conflict CNBCOil prices rise as Iran war escalates with Houthi attacks on Israel AxiosOil Gains as Houthi Attacks Raise Fears of Iran War Escalation Bloomberg.com
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Pope seems to rebuke Trump in remarks about leaders with ‘hands full of blood' The GuardianPope Leo says God rejects prayers of leaders who wage wars ReutersThe Pope's Sermon This Morning Was a Rebuke of Pete Hegseth Mother JonesPope Leo XIV rejects claims that God justifies war in Palm Sunday Mass message NPRPope Delivers Holy Warning to Trump in Blistering Address The Dai
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Oil prices soar in the U.S.-Iran war, leading to volatility in emerging markets, and showing how concentrated EM funds are in Asian economies.
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Stocks capped off a terrible week with another slide as a warning from one of Wall Street's bellwether firm's stoked concern about the U.S. economy.
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After Thursday's close, delivery giant FedEx (FDX, -21.4%) - whose financial results are often seen as a read on broader economic conditions - issued preliminary fiscal first-quarter earnings and revenue figures that were well below estimates. The company cited a recent acceleration in "global volume softness," and specifically pointed to "macroeconomic weakness in Asia and service challenges in Europe." FDX also withdrew its outlook for the full fiscal year, and said it is initiating several cost-cutting measures to offset the effects of lowered demand, including deferring staff hiring, closing 90 FedEx office locations and ending Sunday operations for several FedEx Ground locations. The company is slated on the earnings calendar to report its full quarterly results after next Thursday's close.
Wall Street's nerves were already frayed ahead of FedEx's financial warning, as this week's red-hot inflation reading all but assured another large rate hike from the Federal Reserve at next week's meeting. But an additional contributing factor to this week's massive volatility is likely today's quadruple-witching options expiration, which is when index futures, index options, stock options and individual-stock futures all expire at once. This happens four times a year - on the third Friday in March, June, September and December - and sometimes leads to heavy volume and erratic moves in
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