US Stocks Sink as Trump Signals Iran Action and Block Cuts Jobs

Major US stock indexes tumbled after wholesale inflation data rose to 2.9% and Donald Trump signaled potential military action against Iran.Jack Dorsey announced that Block is cutting its workforce by 4,000 employees as the company shifts toward AI-driven automation tools.Paramount Skydance shares surged following news of a $110 billion agreement to acquire Warner Bros. Discovery after Netflix ended its bid.The Federal Reserve is now expected to postpone interest rate cuts as volatility hits tech giants like Nvidia over AI spending concerns.