Dow fell 800 points as oil prices continue to climb, and markets are still on edge despite US pause on Iranian energy strikesSign up for the Breaking News US email to get newsletter alerts in your inboxThe US stock market closed on Friday with a selloff that sent the Dow into correction territory, capping off the fifth consecutive week that markets closed down.The Dow fell 800 points on Friday, pushing the index into correction territory, which occurs when an index falls 10% below its peak. The tech-heavy Nasdaq index, which entered a correction Thursday afternoon, dropped another 2% while the S&P 500 closed 1.6% lower. Continue reading...

27 Mar 2026 20:11 ✍️ RSS THE GUARDIAN

Rolling coverage of the latest economic and financial news, as Brent crude trades over $110 a barrel for first time since MondayUK government borrowing costs hit 5% as Iran war fuels bond market sell-offMiddle East crisis live: Israel to ‘intensify’ strikes on Iran, says defence ministerUK car production falls 17% as industry warns of ‘worrying’ declineThe UK’s car industry is at “crisis point”, economists are warning, after a slump in production in the run-up to the Iran war.Vehicle production fell by 17.2% in February, with 68,061 units leaving factories, data from the Society of Motor Manufacturers and Traders shows.Today’s SMMT figures are further evidence that the UK automative industry is at crisis point.At a time when it was already struggling, the war in the Middle East will add to its woes, not only pushing up energy prices but also disrupting the supply chains of key input materials with car makers “panic-buying” aluminium amid fears of a supply shortage. Continue reading...

27 Mar 2026 20:04 ✍️ RSS THE GUARDIAN

Yields on 10-year debt reach highest since the 2008 financial crisis, raising concerns of faster interest rate risesMiddle East crisis – live updatesUK government borrowing costs have risen above 5% amid an intensifying global bond market sell-off fuelled by the Iran war.The yield – or interest rate – on 10-year debt hit its highest level since the 2008 financial crisis, rising 13 basis points to 5.081%, as investors acted on concerns about the economic fallout from the conflict. Continue reading...

27 Mar 2026 16:59 ✍️ RSS THE GUARDIAN

President’s move, dubbed Trump Always Chickens Out, appears to have soured as he loses hold on situation in IranMiddle East crisis – live updatesFrom Wall Street to the White House, the dish everyone’s talking about this week is the Persian Taco. It’s what’s served when Trump chickens out in Iran.In the early hours of Monday morning, witnessing oil prices surge, stock futures plummet and bond yields climb due to his threat to pummel Iran’s civilian power infrastructure, the president hurriedly walked it back, announcing he would put off the bombing because talks with Iran were actually going great. After the bombast and bloodshed, it was time for Taco (Trump Always Chickens Out), a move he first put on display during the tariffs crisis last year. Continue reading...

27 Mar 2026 14:00 ✍️ RSS THE GUARDIAN

Dow closed 450 points down and S&P dipped 1.7% while Nasdaq fell 2.3% into correction territorySign up for the Breaking News US email to get newsletter alerts in your inboxUS markets saw their biggest slump since the start of the US-Israel war with Iran on Thursday as Donald Trump said the conflict’s impact on oil prices had not been as bad as he expected.The Dow closed 450 points down, while the S&P 500 dipped 1.7%. The tech-heavy Nasdaq fell 2.3%, plunging into correction territory, which happens when an index falls at least 10% below its most recent peak. Continue reading...

26 Mar 2026 21:01 ✍️ RSS THE GUARDIAN

Rolling coverage of the latest economic and financial newsNS&I boss quits as bank faces record payout over missing savingsWhat caused the NS&I missing savings errors and what to do if you’re affectedNext’s shares have jumped by over 6% at the start of trading, despite its warning that three months of disruption from the Middle East conflict would cost it £15m.Investors are impressed that Next has lifted its pre-tax profit guidance for the year to January 2027 by 4.5% to £1.21bn.For markets, the issue is there’s still plenty of doubt about whether a US-Iran deal can be reached, given how Iran have publicly rejected the US on several occasions. So that’s seen markets become increasingly sceptical about positive headlines from the US side, because we haven’t seen similar noises from Iran. Continue reading...

26 Mar 2026 17:10 ✍️ RSS THE GUARDIAN

OECD says the Middle East war will test the world’s resilience with Australia expected to suffer from higher rates and inflationFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastThe world economy is on the brink of a major inflationary spike as soaring fuel prices threaten growth in European and Asian nations, the OECD has warned, and local economists are slashing Australia’s growth prospects for this year and the next amid the ongoing US-Israel attack on Iran.The Organisation for Economic Cooperation and Development’s latest interim outlook said the US-Israel war on Iran will “test the resilience of the global economy” and warned of the “significant downside risk” to their forecasts should the oil supply disruptions prove more persistent and push energy prices even higher. Continue reading...

26 Mar 2026 10:07 ✍️ RSS THE GUARDIAN