Wall Street falls to worst drop since Iran war

U.S. stocks had their worst day since the war with Iran started, as doubt took over again from hope on Wall Street about a possible end to the conflict.

The S&P 500 fell 1.7% Thursday. The index is back on track for a fifth straight losing week, which would be the longest such losing streak in nearly four years. The Dow Jones Industrial Average dropped 1%, and the Nasdaq composite sank 2.4%. Oil prices rose more than 4%, and Treasury yields climbed in the bond market.

Mortgages could be backed by crypto

Prospective homebuyers who have invested in certain cryptocurrencies will be able to use their holdings as collateral to fund their down payment on a home as part of a new mortgage offering.

Real estate services company Better Home & Finance Holding Co. plans to roll out the crypto-backed mortgage sometime in the next three months in a partnership with crypto trading platform Coinbase, the companies said in a press release Thursday.

US filings for jobless aid tick up last week

The number of Americans applying for jobless aid inched up last week as employers continue to retain workers despite a labor market that has weakened considerably in the past year.

U.S. applications for jobless aid for the week ending March 21 rose by 5,000 to 210,000 from the previous week’s 205,000, the Labor Department reported Thursday.

Judge blocks Pentagon from calling AI firm a risk

A federal judge has ruled in favor of artificial intelligence company Anthropic in temporarily blocking the Pentagon from labeling the company as a supply chain risk.

U.S. District Judge Rita Lin on Thursday said she was also blocking President Donald Trump’s directive ordering all federal agencies to stop using Anthropic.

Average US long-term mortgage rate leaps

The average long-term U.S. mortgage rate climbed this week to its highest level in more than six months, driving up borrowing costs for prospective homebuyers during what’s supposed to be the busiest time of the year for the housing market.

Mortgage buyer Freddie Mac said Thursday that the benchmark 30-year fixed rate mortgage rate rose to 6.38% from 6.22% last week.

Revised aviation safety bill wins NTSB support

A revised version of the House’s aviation safety bill now has the backing of the National Transportation Safety Board, but the families of the 67 victims of last year’s midair collision near Washington, D.C., still want to see tougher requirements to ensure reforms are implemented.

The NTSB said the Alert Act now addresses its recommendations, including requiring planes to be equipped with a key locator system.

Wall Street’s bonuses hit unprecedented levels

Wall Street bonuses hit a new record in 2025 as profits surged. New York State Comptroller Thomas DiNapoli on Thursday reported the average bonus rose to $246,900. That’s up 6% from the previous year.

DiNapoli links the jump to Wall Street profits rising more than 30% to $65.1 billion.

Trump seeks exemption for Gulf oil, gas projects

The Trump administration is seeking an exemption from the Endangered Species Act for expanded oil and gas drilling in the Gulf of Mexico, citing national security as it wages war on Iran.

Environmental groups argue the government hasn’t followed proper procedure and they’re seeking to block a meeting by the Endangered Species Committee on Tuesday.