Truck crashes into barriers near White House as driver arrested

Fears of Potential Iranian Attack Drive US Stocks Down Nearly 500 Points

Fears of Potential Iranian Attack , Drive US Stocks Down , Nearly 500 Points. CNN reports that United States stocks dropped on April 12 amid rising tensions in the Middle East pushing traders to seek safe havens like gold and bonds. CNN reports that United States stocks dropped on April 12 amid rising tensions in the Middle East pushing traders to seek safe havens like gold and bonds. By mid-afternoon, the Dow had fallen 1.4%, the S&P 500 went down 1.6%, and the Nasdaq dropped 1.8%. The dip came after the White House announced that both the U.S. and Israel are on alert for a potential attack by Iran or its allies. The dip came after the White House announced that both the U.S. and Israel are on alert for a potential attack by Iran or its allies. The warning comes after Iran accused Israel of a deadly airstrike on a consulate in Damascus, Syria. . The news also sent oil prices up amid fears of regional tensions escalating as a result of the ongoing war in Gaza. . The news also sent oil prices up amid fears of regional tensions escalating as a result of the ongoing war in Gaza. . Brent crude futures jumped up to $90.42 a barrel, and West Texas Intermediate crude futures increased to $86.65 a barrel. Those geopolitical concerns and subsequent rising oil prices sent investors to safe havens like gold futures, which rose to $2,379 a troy ounce. Those geopolitical concerns and subsequent rising oil prices sent investors to safe havens like gold futures, which rose to $2,379 a troy ounce. CNN reports that Americans' opinions of the economy have dipped in the past few months amid persistently high inflation. The geopolitical fears come as investors are already contending with concerns that the Federal Reserve could wait to bring interest rates down from a 23-year high. Officials at the Fed have signaled that further rate hikes could still be on the way if the central bank's efforts to fight inflation stall.

Biden Cancels Over $7 Billion in Student Debt for More Than 277,000 Borrowers

Biden Cancels Over $7 Billion in Student Debt , for More Than 277,000 Borrowers. On April 12, President Joe Biden said that over 277,000 borrowers in more than 40 states will have $7.4 billion in student loan debt wiped out, 'The Hill' reports. . To date, the Biden administration has canceled $153 billion in student loan debt. . From day one of my administration, I promised to fight to ensure higher education is a ticket to the middle class, not a barrier to opportunity. , President Joe Biden, via statement. I will never stop working to cancel student debt – no matter how many times Republican elected officials try to stop us, President Joe Biden, via statement. 'The Hill' reports that Biden's loan forgiveness has largely been aimed at helping "public service workers, those on IDR plans," . people who've been defrauded by educational institutions and those with disabilities. . Republican Rep. Virginia Foxx, chair of the House Education Committee, issued a statement in response to Biden's actions. . The administration is tone deaf. There’s no other way to put it, Rep. Virginia Foxx, chair of the House Education Committee, via statement. We know that instead of doing its job the administration focused time, energy, and resources on its illegal student loan scheme. , Rep. Virginia Foxx, chair of the House Education Committee, via statement. And that has been frustrating, especially since it has jeopardized the academic journey of millions of students, Rep. Virginia Foxx, chair of the House Education Committee, via statement. But what is absolutely maddening is that the administration is STILL not doing its job and instead focusing on its student loan shenanigans. , Rep. Virginia Foxx, chair of the House Education Committee, via statement. White House press secretary Karine Jean-Pierre said, , “We know what Republicans are going to do; we can’t stop them from that. But it’s also not going to stop the president from acting and taking action, like he is today.”