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Spiking gas prices tied to Iran war are set to eat up tax refunds touted by Trump AP NewsHigher gasoline prices this year could wipe out tax refunds from Trump's One Big Beautiful Bill Act FortuneYour tax refund is likely bigger this year. But Trump's war with Iran could take a bite out of it CNNWith Iran War, Trump Risks Stepping on Gains From His Own Tax Cuts The New York TimesYour tax refund could be smaller than expect
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High Point vs Arkansas Predictions, 2026 March Madness Odds: Picks for Second-Round Game Action NetworkHigh Point Panthers vs. Arkansas Razorbacks Live Score and Stats - March 21, 2026 Gametracker CBS SportsDarius Acuff Jr. (36 points) leads Arkansas by High Point, into Sweet 16 ESPNArkansas vs High Point live updates: Score, highlights of March Madness Round 2 game USA Today
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"We are intentional about who we identify and how we develop them."
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Experts say the case highlights how the industry appears to not have taken the issue of chip smuggling seriously.
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Traders price in almost 50% chance of higher borrowing costs by October, in potential blow to Trump's calls for cuts
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Attacks on oil and natural gas facilities this week could make it much harder for Persian Gulf countries to rebuild and restart production when the war eventually end.
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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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