Stock markets slide and oil prices surge after Israel attack on Iran
CBSN
Stock markets around the world slumped and oil prices surged after Israel on Thursday launched a military strike on Iran.
Two hours before the start of trade in the U.S., S&P 500 futures contracts fell 65 points, or 1.1%, to 5,984, while futures on the Dow Jones Industrial Average and Nasdaq Composite dropped 1.1% and 1.4%, respectively.
U.S. benchmark crude oil jumped $4.97, or 7.3%, to $72.91 per barrel. Brent crude, the international standard, rose $4.78, or 6.7%, to $74.15 per barrel.
Pope Leo XIV put the Rev. Edward Joseph Flanagan a step closer to possible sainthood Monday as he proclaimed the "heroic virtues" of the founder of Boys Town, a Nebraska home for at-risk youths that gained national renown and inspired an Oscar-winning biopic performance. In:
Washington — Amid Trump administration demands for Tehran to keep the free flow of commerce in the Strait of Hormuz, U.S. officials have told CBS News that there are at least a dozen underwater mines through the vital passageway, according to current American intelligence assessments. Arden Farhi, Kathryn Watson, Caroline Linton, Aimee Picchi and Layla Ferris contributed to this report.
Elon Musk, famously a man with big ideas, is building a semiconductor plant vast enough to power those ambitions. Edited by Alain Sherter In:
The Justice Department has quietly gutted a more than 60-year-old program created to ensure that low-income and indigent immigrants can receive competent and affordable legal representation, multiple sources with direct knowledge of the matter tell CBS News. In:
Kyiv — The White House wants Congress to provide at least $200 billion more in funding for the war in Iran, and President Trump says that's partly due to aid for Ukraine having depleted U.S. weapons stockpiles as it fends off Russia's ongoing full-scale invasion. In:
A statue of Christopher Columbus has been placed on the grounds of the Eisenhower Executive Office Building adjacent to the White House — the latest effort by the Trump administration to honor the explorer whose legacy has drawn increasing criticism in recent years. In:
OnlyFans owner Leonid Radvinsky, a reclusive billionaire who transformed a little-known adult-content site into a cultural touchstone, has died of cancer, the company said Monday. Radvinsky was 43. Edited by Alain Sherter
Washington — President Trump said early Monday that he is postponing airstrikes on Iran's power plants after "very good and productive conversations" over the last two days about reopening the Strait of Hormuz. However, Iran's foreign ministry denied any such talks. Claire Day contributed to this report. In:
Immigration and Customs Enforcement agents began deploying to some U.S. airports on Monday as a partial government shutdown causes shortages of Transportation Security Administration officers who have resigned or called out of work. Skyler Henry contributed to this report. In:
London — Police in London are investigating a suspected antisemitic hate crime after vehicles belonging to a Jewish ambulance service were set on fire early Monday morning. In:
Washington — The Supreme Court is considering Monday a major elections dispute involving whether federal law bars states from counting mail ballots that are postmarked by, but received after Election Day.
Stocks look set to surge in early trading on Monday after President Trump postponed an ultimatum for Iran to reopen the Strait of Hormuz, saying that the U.S. is engaged in "good and productive" negotiations with Tehran. Edited by Alain Sherter In:
New York's La Guardia Airport was closed late Sunday night after an arriving Air Canada Express plane and ground vehicle collided, according to flight tracking service FlightRadar24.