Consumer confidence fell to the lowest point since April last year as the Iran war prompted renewed fears over price rises and added to concerns about the strength of the economy.
World governments had more than $100 trillion in public debt when the Iran war began—limiting their ability to cushion the effects of energy-price shocks.
The number of people who filed for unemployment benefits was 210,000 in the week through March 21, higher than the 205,000 reported a week earlier, the Labor Department said.
The research body lifted its inflation forecast for the U.S. to 4.2% from 3%, and said the global economy would suffer a large setback if energy prices stay high for a lengthy period.
The European Union and Australia agreed to a free-trade deal and security partnership, the latest move by U.S. allies to rethink their economic and military relationships at a time of rapidly growing geopolitical uncertainty.
EXCLUSIVE: As investors jettisoned expectations for rate cuts in Europe following the outbreak of war in Iran, the National Bank of Poland lowered borrowing costs, underscoring its confidence inflation will remain contained.
Truck drivers in the U.S. are feeling some of the first economic effects of the rapid surge in the cost of diesel. A broader economic impact could hit soon.
About 2.2% of rental listings on Zillow in November had previously been listed for sale, according to a Zillow analysis, the highest level since late 2022 when mortgage rates surged.