CNBC — 2026-04-09#
Lead Story#
The fragile U.S.-Iran ceasefire is already showing deep cracks as the Strait of Hormuz remains heavily restricted, sending global oil prices surging back above $97 a barrel. Despite the truce, Iran is reportedly planning to charge shipping tolls in cryptocurrency and is severely limiting transit, sparking outrage from President Donald Trump and setting up a highly volatile backdrop for global energy markets.
Markets & Economics#
Inflation proved stubbornly persistent even before the Middle East conflict, with February’s core personal consumption expenditures (PCE) price index rising an annualized 3%. Headline PCE advanced 2.8%, matching forecasts but cementing concerns that the Federal Reserve faces a prolonged battle with price pressures. Compounding the economic unease, U.S. fourth-quarter GDP was revised down to a sluggish 0.5% annualized growth rate, pointing to stagflationary currents. Meanwhile, the 10-year Treasury yield hovered near 4.3%, while the Dow Jones Industrial Average managed to creep into positive territory for 2026 despite the geopolitical overhang.