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Iran threatens to 'completely' close Strait of Hormuz and hit power plants after Trump's ultimatum AP NewsIran threatens to retaliate against Gulf energy and water after Trump ultimatum ReutersUS, Iran threaten more energy strikes as gas prices surge. What to know USA TodayDay 22 of Middle East conflict — Iran missiles hit Israel, injuring dozens CNNIran War Live Updates: Tehran Vows to Destroy Key Infrastructure After Trump's Power Plant Threat
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Russian cargo spacecraft suffers glitch after launching toward International Space Station SpaceProgress Cargo Craft Launches to Resupply Station Crew NASA (.gov)Russia launches first rocket from repaired Baikonur launch pad ReutersProgress MS-33 to re-supply the ISS RussianSpaceWeb.comRussia launches Progress MS-33 cargo spacecraft to International Space Station Yahoo
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One gas station, two drivers and three fill-ups: The Iran war hits home The Washington PostThe Iran war has already hit your gas budget. Here's what it's coming for next. NBC NewsGas Prices Have Risen More Than 30% in Some States in Weeks Since Iran War Began The New York TimesAmerica Produces The Most Oil. So Why Are Gas Prices Surging? ForbesRising gas prices hitting US household finances and more pain is expected, Reuters/Ipsos poll
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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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Middle East crisis live: Iran will completely close strait of Hormuz if Trump acts on infrastructure threats, says IRG The GuardianLive updates: Iran's military says Strait of Hormuz will be ‘completely closed' if US bombs power plants CNNTrump Threat to Target Iranian Power Plants Recalls Operation Desert Storm WSJIran War Live Updates: Tehran Vows to Destroy Key Infrastructure After Trump's Power Plant Threat The New York Times
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Israel Orders Military to Intensify Demolitions in Southern Lebanon The New York TimesLebanon's Aoun warns Israeli attack on bridge ‘prelude to ground invasion' Al JazeeraIDF warns it will bomb another bridge on Litani, citing Hezbollah terror activities The Times of IsraelIsrael strikes main bridge in south Lebanon, orders destruction of ho
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War in Iran has disrupted global oil supplies, which is prompting some car shoppers to look for ways to climb off "the gas-price roller coaster."
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CEO Jensen Huang hails "the new computer"—and "the single most important release of software, probably ever."
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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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