Ed Kalecki

When asked about current negotiations with Iran, U.S.

Special Envoy Steve Witkoff said, we think there will be meetings this week.

Bank of America has agreed to pay $72.5 million to settle a lawsuit on behalf of Jeffrey Epstein victims claiming the bank aided in the late financier's sex trafficking.

Friday, the parties presented details of the previously announced settlement to U.S.

District Judge Jed Rakoff in Manhattan.

Rakoff, who must approve the deal, put the case on hold on March 16th, disclosing only that the parties had reached a settlement in principle.

Bank of America does not admit wrongdoing in the agreement.

The Friday numbers on Wall Street, the Dow fell 793, that's 1.7%.

NASDAQ lost 459, that's just over 2%.

The S&P dropped 108, that's 1.6%.

The 10-year Treasury yield is at 4.43%, and the 2-year Treasury yield is at 3.90%.

That's news when you want it with Bloomberg News Now.

I'm Ed Kalecki.

This is Bloomberg.

News when you want it with Bloomberg News Now.

I'm Ed Kalecki.

President Trump Saturday evening posted on Truth Social that Iran has 48 hours to fully open the Strait of Hormuz.

He posted, quote, If Iran doesn't fully open without threat the Strait of Hormuz within 48 hours from this exact point in time, the United States of America will hit and obliterate their various power plants, starting with the biggest one first.

The U.S.

military says it has been able to degrade Iran's ability to target ships moving through the Strait of Hormuz, as President Trump Friday floated the idea of winding down military efforts in the Persian Gulf.