From Quartz.

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A seven-day shutdown of the Strait of Hormuz following U.S.-Israeli attacks on Iran coincided with the sharpest weekly jump in gas prices since March 2022, heightening market stress.
Gas prices climbed to about $3.32 a gallon as Brent crude reached $90 and West Texas Intermediate rose nearly 30% for the week. The waterway, which typically carries about one-fifth of global oil, has left roughly 140 million barrels stranded.
Stocks fell unevenly, with the Dow on pace for its worst week since October; airlines fell 5.4% Thursday and industrials, materials, healthcare, and financials declined, while energy and select tech names advanced. A Friday report showed the U.S. lost 92,000 jobs in February, intensifying a stagflation scare and complicating the Federal Reserve’s balancing act. #marketvolatility #oilcrisis #jobsreport #economicuncertainty #stagflationscare

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