Oil prices shot up again because of the war with Iran, tightening their grip on the global economy and sending stock markets sharply lower.
Oil prices are down, and stocks are up, though such moves have been quick to change since the war in Iran began.
The S&P 500 dropped 1.6% after a report showed U.S. employers cut more jobs last month than they created.
Revisions also cut 69,000 jobs from December and January payrolls.
Worries are particularly high about what will happen to the Strait of Hormuz off the coast of Iran, where roughly a fifth of the world’s oil passes.
Past military conflicts in the Middle East have not caused long-term drops for markets.
On a monthly basis, consumer prices rose 0.2% in January from December, while core prices rose 0.3%.
The Federal Reserve pushed the pause button on its interest rate cuts, leaving its key rate unchanged after lowering it three times last year.
A school board vote sets up changes next summer as leaders move to close a lingering budget gap.
The data suggests that businesses are reluctant to add workers even as economic growth has picked up.