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It’s the first read on inflation to capture the effects of the Iran war.
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Oil prices shot up again because of the war with Iran, tightening their grip on the global economy and sending stock markets sharply lower.
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President Trump has signed a pair of executive orders aimed at showing his commitment to improving home affordability.
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The S&P 500 dropped 1.6% after a report showed U.S. employers cut more jobs last month than they created.
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Revisions also cut 69,000 jobs from December and January payrolls.
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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.
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Past military conflicts in the Middle East have not caused long-term drops for markets.
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The Federal Reserve pushed the pause button on its interest rate cuts, leaving its key rate unchanged after lowering it three times last year.
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Federal Reserve Chair Jerome Powell will attend the Supreme Court's oral argument Wednesday.
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The data suggests that businesses are reluctant to add workers even as economic growth has picked up.