The U.S. stock market was jolted sharply lower on Thursday, while domestic oil prices touched $80 a barrel and Treasury yields marched higher on concerns about an oil shock. Treasury Secretary Scott Bessent on Wednesday provided some calm on Wall Street by pledging more support for stalled tanker traffic through the crucial Strait of Hormuz amid the Iran conflict.

Retail gas prices also continue rising, with the nationwide average price per gallon now $3.25, up more than 30 cents from Sunday.

Massive explosions are reported in Tehran and in Karaj to its west as the United States and Israel step up their attacks on Iranian cities. We hear what life is like for those living there. Iran continues to retaliate with attacks on Israel and other countries in the region -- although it denies carrying out drone strikes in Azerbaijan.

South Korea's aviation industry is on alert as rising oil prices and a weakening Korean won threaten airline profitability after Iran crisis

Market analyst Bob McNally discusses the sharp rise in oil and gas prices, with the Dow Jones Industrial Average down. The conflict threatens shipping through the Strait of Hormuz, a vital waterway.

The US and Israel launched the war Saturday, targeting Iran’s leadership, missile arsenal and nuclear program while suggesting that toppling the government is a goal.

U.S. President Donald Trump said Thursday he should be involved in choosing Iran’s next supreme leader as the U.S. and Israel hammered the country for a sixth day. Iran kept up retaliatory attacks on Israel,

U.S. stocks sank after the price of oil spiked to its highest level since 2024. The S&P 500 fell 0.6% Thursday.