WSKW

The U.S. stock market was volatile on Thursday, sliding steeply at the start before trimming most of those losses by midday, though they remained slightly in the red. The S&P 500 dipped roughly 0.2% to near 6,560, while the Dow Jones Industrial Average shed about 150 points, or 0.4%. The Nasdaq also moved lower by around 0.4%. Earlier trading saw all three benchmarks down more than 1% before staging a partial comeback.

Despite the turbulence, analysts noted the market has shown resilience. Stocks are reacting to developments in the Middle East without plunging to fresh lows, suggesting investors are absorbing the ongoing conflict. Corporate earnings have also remained relatively steady, even as rising energy costs create pressure.

The volatility followed remarks from President Donald Trump, who signaled that military operations against Iran would intensify in the coming weeks. While he suggested the conflict could end “shortly,” he also pledged additional “extremely hard” strikes over the next two to three weeks and emphasized that fighting would continue until U.S. objectives are “fully achieved.” Notably absent from his address was a clear plan for a ceasefire or reopening the Strait of Hormuz, a critical shipping route responsible for about 20% of global oil supply. Trump said, “The strait will open up naturally.”

Oil markets reacted strongly to the uncertainty. U.S. crude prices surged more than 10%, topping $110 per barrel, while Brent crude climbed above $108. The rally reversed earlier declines and reflected growing concern over prolonged supply disruptions. Gasoline prices have followed suit, with the national average reaching $4.08 per gallon—up sharply from $2.98 before the conflict began. Analysts warned that drivers could quickly feel the impact, with price increases expected to show up at the pump almost immediately.

Rising energy costs are also reigniting inflation concerns. Treasury prices fell as yields climbed, with the 10-year yield reaching about 4.37%. Mortgage rates have moved higher as well, with the average 30-year fixed rate now around 6.45%, compared to 5.99% before the war. Economists anticipate inflation could accelerate in the near term, potentially approaching 4% based on key Federal Reserve metrics. Overseas, price pressures are already building, with eurozone inflation jumping to 2.5% in March.

Adding to market unease, geopolitical tensions remain high. Iran has continued launching missiles and drones across the region, with multiple Gulf nations reporting successful interceptions. The United Arab Emirates, Kuwait, Bahrain, and Qatar all confirmed defensive actions against incoming threats, underscoring the ongoing instability.

With U.S. markets closed Friday for Good Friday, investors may be trimming risk ahead of the long weekend, wary of rapid developments while trading is paused. The lack of a clear diplomatic path, combined with rising energy prices and inflation fears, continues to keep markets on edge.

Editorial credit: Kirkam / Shutterstock.com

President Donald Trump has fired Attorney General Pam Bondi, bringing an abrupt end to her contentious time leading the Justice Department as dissatisfaction with her performance intensified.

In a Truth Social announcement, Trump confirmed the move, stating: “Pam Bondi is a Great American Patriot and a loyal friend, who faithfully served as my Attorney General over the past year. Pam did a tremendous job overseeing a massive crackdown in Crime across our Country, with Murders plummeting to their lowest level since 1900. We love Pam, and she will be transitioning to a much needed and important new job in the private sector, to be announced at a date in the near future, and our Deputy Attorney General, and a very talented and respected Legal Mind, Todd Blanche, will step in to serve as Acting Attorney General. Thank you for your attention to this matter! President DONALD J. TRUMP”

Deputy Attorney General Todd Blanche, a former defense lawyer for Trump, will temporarily take over the role. According to officials, Trump personally informed Blanche of the decision shortly before the news became public. Blanche posted on X: “Pam Bondi led this Department with strength and conviction and I’m grateful for her leadership and friendship. Thank you to President Trump for the trust and the opportunity to serve as Acting Attorney General. We will continue backing the blue, enforcing the law, and doing everything in our power to keep America safe.”

Bondi also posted on X after the news broke, writing: “Over the next month I will be working tirelessly to transition the office of Attorney General to the amazing Todd Blanche before moving to an important private sector role I am thrilled about, and where I will continue fighting for President Trump and this Administration. Leading President Trump’s historic and highly successful efforts to make America safer and more secure has been the honor of a lifetime, and easily the most consequential first year of the Department of Justice in American history. Since February 2025, we have secured the lowest murder rate in 125 years, secured first-ever terrorism convictions against members of Antifa, shattered domestic and transnational gangs across the country, taken custody of more than 90 key cartel figures, and won 24 favorable rulings at the Supreme Court. I remain eternally grateful for the trust that President Trump placed in me to Make America Safe Again.”

Bondi’s removal follows more than a year of turbulence at the Justice Department, where her leadership drew criticism from multiple directions. Internally, the agency has been strained by the departure of experienced prosecutors, clashes with federal judges, and the pressure of major policy initiatives, including an aggressive deportation push. Externally, political backlash intensified over the department’s handling of the Jeffrey Epstein case and its failure to deliver swift legal action against Trump’s perceived political adversaries.

An additional source of tension was Trump’s expectation that the department would aggressively pursue investigations into his rivals. Despite launching inquiries into figures such as James Comey, Letitia James, Adam Schiff, and Jerome Powell, most efforts either stalled or collapsed. In high-profile instances, charges against Comey and James were dismissed after a judge determined the prosecutor involved had been improperly appointed. Other probes failed to produce indictments, adding to Trump’s frustration over the lack of results.

While Trump continued to express personal fondness for Bondi, allies said his confidence in her abilities steadily declined. He reportedly grew frustrated not only with the lack of prosecutorial victories but also with her effectiveness as a public communicator. Behind the scenes, tensions reportedly escalated further in recent weeks, including a heated exchange at the White House. At the same time, discussions about her replacement were already underway. Environmental Protection Agency Administrator Lee Zeldin has emerged as a leading candidate, though concerns about his limited prosecutorial background could create unease within the department.

Bondi’s exit marks the second high-level Cabinet departure in recent weeks and leaves the Justice Department at a moment of significant uncertainty.

Editorial credit: Robert V Schwemmer / Shutterstock.com

The U.S. Supreme Court appeared unconvinced by President Trump’s effort to restrict automatic citizenship at birth, raising serious questions during oral arguments over a case that could redefine who qualifies as an American.

President Trump attended roughly 90 minutes of arguments, becoming the first sitting president to observe Supreme Court proceedings in person. He sat quietly in the gallery and left before opposing counsel, representing the American Civil Liberties Union, finished opening remarks.

At issue is Trump’s 2025 executive order seeking to limit citizenship only to children born to U.S. citizens or lawful permanent residents. The policy challenges the long-standing interpretation of the Fourteenth Amendment, which states that all “persons born or naturalized in the U.S. and subject to the jurisdiction thereof” are citizens—a principle reinforced by federal law and court rulings for over a century.

Several members of the court—across ideological lines—voiced skepticism about the administration’s legal reasoning. Chief Justice John Roberts dismissed claims that modern conditions justify reinterpreting the Constitution, replying, “It’s the same Constitution.” Conservative justices Amy Coney Barrett and Neil Gorsuch also pressed government lawyers on the foundations of their argument, while liberal justices raised concerns about reliance on obscure or outdated sources.

Roberts criticized the administration for stretching narrow historical exceptions—such as children of diplomats—into a sweeping rule affecting millions, while Gorsuch similarly cast doubt on the legal sources cited, noting they may not support the government’s position.

Solicitor General D. John Sauer argued that citizenship should depend on a parent’s “allegiance” to the U.S., suggesting the Constitution’s jurisdiction clause excludes children of undocumented immigrants or temporary visitors. But justices questioned how that interpretation aligns with historical intent or precedent—especially the landmark United States v. Wong Kim Ark decision, which affirmed birthright citizenship broadly.

If upheld, the executive order would introduce major changes, including new systems to verify citizenship at birth rather than relying on birth certificates alone. Critics say that could create confusion, legal disputes, and even statelessness for some children. The administration argued that unrestricted birthright citizenship acts as a “pull factor” for illegal immigration, but justices questioned both the scale of that claim and its relevance to constitutional interpretation.

Editorial credit: Orhan Cam / Shutterstock.com

The U.S. Food and Drug Administration has approved a new once-daily weight-loss pill from Eli Lilly, marking a significant step in the rapidly growing market for GLP-1 medications. The drug, sold as Foundayo, becomes only the second oral option available, following a similar pill from Novo Nordisk.

Unlike some competing treatments, Foundayo can be taken at any time of day without food restrictions, offering a simpler routine. As CEO Dave Ricks explained, “It’s a breakthrough in that it’s a simple oral medication… it fits into your daily routine.” Patients typically begin on a lower dose and gradually increase to minimize side effects.

Pricing is expected to range from about $149 to $349 per month for those paying out of pocket, with lower copays possible through insurance or manufacturer programs. Medicare coverage for some patients could begin as soon as this summer, potentially lowering costs further.

Demand for pill-based GLP-1 drugs is already strong. Early data from Novo Nordisk’s oral treatment suggests significant uptake, indicating these medications may attract new patients rather than simply replace injectable users.

Foundayo’s side effects are similar to other drugs in its class, most commonly involving digestive issues like nausea, constipation, and diarrhea. Despite somewhat lower effectiveness, the pill’s ease of use, broader accessibility, and lower manufacturing complexity could help it reach a wider global audience. Clinical trial results show that patients taking the highest dose lost around 12% of their body weight over roughly 72 weeks—comparable to other pills but less than injectable treatments like Zepbound. Still, the convenience of a pill may appeal to those who want to avoid injections or maintain weight loss after using them.

Looking ahead, Eli Lilly is continuing to develop additional treatments, including a more powerful experimental drug, retatrutide, as competition intensifies and options for patients continue to grow.

Editorial credit: grandbrothers / Shutterstock.com