Asia markets in Hong Kong and Japan react after the U.S. and Israel’s attacks on Iran. NEW YORK (AP) — Oil prices leaped Monday on worries that war with Iran could clog the global flow of crude and make inflation even worse. U.S. stocks, meanwhile, swung from sharp losses to a tiny gain. Crude prices jumped more than 6%, which will likely mean higher prices soon at gasoline pumps. That would hurt not only U.S. households, whose spending makes up the bulk of the U.S. economy, but also businesses with big fuel bills.
Main Idea: U.S. markets wobbled after attacks on Iran, as higher oil prices raised fears of inflation and a wider economic hit.
Key Points:
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Higher oil and gas prices could raise costs for drivers, households, and small businesses, while higher Treasury yields may keep mortgage and loan rates elevated.
Big Tech and defense firms may get a boost, and some retirement and investment accounts could gain if stock markets recover.
Rate how each entity in this article affected the American people.
Central country in the market reaction story, including its attacks, stock market moves, and Treasury yield changes.
One of the airlines hit hard by the market reaction to higher oil prices and regional fighting.
The article discusses these named companies together as a central group.
Major airline stock that declined on concerns about fuel costs and travel disruption.
Oil company that gained as crude prices rose, making it a key beneficiary in the market move.
Defense contractor that rose on expectations of increased military spending tied to the conflict.
Cruise operator that dropped sharply amid consumer-spending and fuel-cost worries.
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Sign in to commentMajor airline stock that fell sharply as investors reacted to war-related fuel and travel risks.
U.S. Defense Secretary quoted making a notable statement about the scope of the conflict.