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

Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Fears of Potential Iranian Attack Drive US Stocks Down Nearly 500 Points

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.

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The news also sent oil prices up amid fears of regional tensions escalating as a result of the ongoing war in Gaza.

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The news also sent oil prices up amid fears of regional tensions escalating as a result of the ongoing war in Gaza.

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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.


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FTC to Decide , Whether Noncompete Agreements , Should Be Banned. After receiving over 26,000 public comments about the issue, the Federal Trade Commission is set to deliver its verdict on April 30, NPR reports. . The commission said that if approved, the final rule "would generally prevent most employers from using noncompete clauses.". The commission said that if approved, the final rule "would generally prevent most employers from using noncompete clauses.". Approximately one in five Americans, spanning minimum wage workers to CEOs, are subject to noncompete agreements, the FTC estimates. . The Biden administration says that these types of agreements hurt workers by decreasing wages. The White House also argues that these agreements harm the U.S. economy because entrepreneurship isn't allowed to freely flourish. . FTC Chair Lina M. Khan issued a statement when the proposed ban was initially introduced. The freedom to change jobs is core to economic liberty and to a competitive, thriving economy, FTC Chair Lina M. Khan, via statement. Noncompetes block workers from freely switching jobs, depriving them of higher wages and better working conditions, and depriving businesses of a talent pool that they need to build and expand, FTC Chair Lina M. Khan, via statement. Businesses argue that noncompete agreements are essential for safeguarding investments and proprietary information. Those businesses also question whether the agency has the power "to regulate such agreements," NPR reports. . If the FTC votes to issue a final rule, enforcement wouldn't occur for 180 days, and legal challenges would likely ensue.

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Millennials Want a 4-Day Workweek, , Poll Indicates. Redfield and Wilton Strategies recently conducted a poll for 'Newsweek' to find out how Americans feel about the idea of moving toward a four-day workweek. 4,000 U.S. voters were surveyed between April 6 and 7. 63% were in favor of a four-day workweek. 46% think the model makes employees more productive. Out of all age groups surveyed, millennials accounted for 74% of those who want to work less hours. Of that 74%, 44% "were strongly in favor of a shorter working week," 'Newsweek' reports. 50% of people born in 1964 and before supported a four-day workweek. The results come as more companies are adopting shorter workweeks, and politicians are pushing to advance the trend in Congress. The results come as more companies are adopting shorter workweeks, and politicians are pushing to advance the trend in Congress. The sad reality is, Americans now work more hours than the people of most other wealthy nations, Bernie Sanders, via March 2024 health committee hearing. Lisa Countryman-Quiroz, CEO of non-profit JVS, called a 5-day, 40-hour workweek outdated. The five-day workweek was created in a different time. It served its purpose, but today's world is more fast-paced and technology-driven than our workplace predecessors could have imagined, Lisa Countryman-Quiroz, CEO of non-profit JVS, via 'Newsweek'. Since implementing a four-day workweek, our results have been incredible. , Lisa Countryman-Quiroz, CEO of non-profit JVS, via 'Newsweek'. We've found our employees are more productive, report better work-life balance, and experience less burnout. Incredibly, our turnover rate has been cut nearly in half, Lisa Countryman-Quiroz, CEO of non-profit JVS, via 'Newsweek'

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