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Trump warns Iran "clock is ticking" until U.S. launches harder strikes Axios‘Won't be anything left': Trump issues warning to Iran after national security team meeting CNNTrump warns 'clock is ticking' for Iran as peace progress stalls BBCOpinion | Trump is stuck in an Iran trap of his making — with only two options The Washington PostTrump warns Iran to 'get moving' or 'there won't be anything left' CNBC
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Fire sparked after drone strike at UAE nuclear plant politico.euIran war live: Trump says ‘clock is ticking' for Iran to make deal with US Al JazeeraDrone attack starts fire at UAE nuclear power plant PBSUAE reports strike near Abu Dhabi nuclear power plant BBC
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To Critics, Trump Remarks Reveal a Billionaire Out of Touch The New York Times‘Perfect statement': Trump defends saying he isn't thinking about Americans' finances amid Iran talks NBC NewsTrump's Latest Gaffes Could Hurt the GOP The AtlanticTrump's ‘financial situation' gaffe underscores his Iran war problem CNNTrump says Iran war is worth the economic pain. These rural voters agree Y
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Is it a problem if the Fed speaks too much? CNNKevin Warsh comes into the Fed facing a big 'family fight' over cutting interest rates CNBCKevin Warsh and the Return of Monetarism Barron'sUS debt load could undercut Warsh's plan to shrink Fed balance sheet Reuters
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Nearly three months into the Iran war, Americans are still spending plenty of money to keep the economy on the up and up.
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Ships are increasingly sailing through India and Sri Lanka, and through the Panama Canal.
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He has minimized soaring gas prices, rising inflation and the American economy's need for the Strait of Hormuz.
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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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