ABC Business

Trump slaps 100% tariff on some pharmaceutical drugs via executive order

Friday, April 3 by ABC News

(WASHINGTON) -- President Donald Trump on Thursday slapped 100% tariffs on some pharmaceutical products, ramping up his effort to boost U.S. drug manufacturing.The move, in the form of an executive order, targets patented drugs that lack a "most favored nations" pricing agreement... Read More.

Mortgage rates hit highest level since September as Iran war rattles financial markets

Thursday, April 2 by ABC News

(NEW YORK) -- Mortgage rates have climbed to their highest level since September as fallout from the Iran war ripples through financial markets, Freddie Mac data on Thursday showed.The average interest rate for a 30-year fixed-rate mortgage jumped to 6.46%, continuing a weeks-long surge... Read More.

Stocks tick lower after Trump vows to hit Iran ‘extremely hard’ in coming weeks

Thursday, April 2 by ABC News

(NEW YORK) -- Stocks ticked lower in volatile trading on Thursday after President Donald Trump delivered a televised address vowing to hit Iran "extremely hard" over the coming weeks.The Dow Jones Industrial Average fell 75 points, or 0.1%, after opening... Read More.

Dow soars over 950 points after Trump suggests US may end Iran war without reopening Strait of Hormuz

Wednesday, April 1 by ABC News

(NEW YORK) -- The Dow Jones Industrial Average soared more than 950 points on Tuesday after President Donald Trump appeared to suggest the U.S. may end the Iran war without reopening the Strait of Hormuz.In a post on social media, Trump indicated that the... Read More.

Gas prices top $4 a gallon as Iran war triggers global oil shock

Tuesday, March 31 by ABC News

(NEW YORK) -- Gas prices in the United States topped $4 per gallon on average Tuesday, crossing the milestone for the first time in nearly four years, just weeks after the U.S.-Israeli war on Iran set off a global oil shock and spiked fuel... Read More.

As Trump postpones threatened attacks on Iran’s power plants, experts warn of the potential humanitarian crisis

Friday, March 27 by ABC News

(NEW YORK) -- A threat of U.S. attacks on power plants in Iran continues to loom over the Middle East conflict, even after Trump pushed back a self-imposed deadline for the second time.In a post on social media on Thursday, Trump said he was... Read More.

Dow closes down nearly 800 points as Iran war hits one-month mark

Friday, March 27 by ABC News

(NEW YORK) -- Stocks closed significantly lower on Friday as the U.S.-Israeli war with Iran showed little sign of an imminent resolution that would end one of the worst global oil shocks in decades.The Dow Jones Industrial Average plunged 790 points, or... Read More.

Dow soars 1,000 points as Trump claims talks held with Iran

Monday, March 23 by ABC News

(NEW YORK) -- The Dow Jones Industrial average soared more than 1,000 points on Monday after President Donald Trump claimed "productive conversations" had been held between the United States and Iran.The major stock indexes shed some of the morning's gains by midday as... Read More.

Oil and gas prices surge as Iran escalates strikes on Gulf refineries

Thursday, March 19 by ABC News

(NEW YORK) -- Iranian attacks on significant energy infrastructure and refineries in several Gulf countries pushed oil and gas prices higher in volatile trading on Thursday.Brent crude oil prices, a benchmark for global trading, climbed by about 6%, hitting $116 per barrel for contracts... Read More.

Fed holds interest rates steady in 1st move since war with Iran spiked oil prices

Wednesday, March 18 by ABC News

(NEW YORK) -- The Federal Reserve held interest rates steady on Wednesday at its first meeting since the U.S.-Israeli war with Iran drove up gasoline prices and risked a wider bout of inflation.The central bank's move marked the second consecutive time it has opted... Read More.