Economy

Bloomberg - The Dow Jones Industrial Average fell more than 1,100 points after the Federal Reserve voted to hold interest rates steady amid economic uncertainty from the Iran war. Wednesday was the Dow’s worst decline since April 2025, when Trump unveiled his “Liberation Day” tariffs.

NY Times -   The American economy slowed in the second quarter of the year, expanding at an annual rate of 1.5 percent as the war with Iran upended prices, supply chains and energy markets.

Oil prices have receded from their peaks in the spring. But damage in the form of higher prices for gasoline and other petroleum-based products is still hitting households and businesses. Because G.D.P. is adjusted for inflation, these rising costs dampened the growth reflected in the data.