Chapter 1: What caused the Nasdaq to drop into correction territory?
The Nasdaq falls into correction territory. And U.S. mortgage rates rise for the fourth week in a row, and a bad sign for the spring home-buying season. Plus, officials think Iran is behind a series of attacks targeting Jews across Europe.
Essentially, it can turn anyone into a sort of executor of Iran's agenda. Quite often, they don't even know who they're working for. It basically means that a lot of people from all walks of life can be recruited to be part of this kind of criminal network.
Chapter 2: How are rising mortgage rates affecting the housing market?
It's Thursday, March 26th. I'm Alex Osola for The Wall Street Journal. This is the PM edition of What's News? The top headlines and business stories that move the world today.
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Chapter 3: What evidence suggests Iran is behind attacks on Jews in Europe?
Several Senate Republicans are pressing the White House to declare a national emergency to free up money to pay TSA agents and help millions of Americans who are traveling for spring break and holidays and facing long lines at airports. Democrats have blocked funding for the Department of Homeland Security because they want new rules on immigration enforcement, and there's no agreement yet.
President Trump said at a cabinet meeting today that if the standoff doesn't end soon, quote, we'll have to take some very drastic measures. In the Middle East, Iran has allowed several Pakistan-flagged oil tankers through the Strait of Hormuz. President Trump called the gesture a present to the U.S. that shows Iran's leaders are serious about negotiating and said the U.S.
would pause strikes on Iran's energy sectors for 10 more days. His previous deadline was tomorrow. Pakistan said Tehran was considering Washington's proposals. Today, Secretary of State Marco Rubio said that U.S. allies need to step up to do more on Iran and securing the Strait of Hormuz. Throughout the war, some of those allies have been more outspoken than others.
Spanish Prime Minister Pedro Sánchez, a 54-year-old socialist, has been one of Europe's fiercest critics of the conflict in Iran. The Wall Street Journal's Gordon Fairclough sat down with Sánchez to discuss the division between Spain and Trump.
Chapter 4: How is Iran adopting Russia's tactics in its operations?
You've been quite blunt in your criticism of the US and Israeli war with Iran. Why have you chosen to be so outspoken on this issue? Well, as I said, there is a moral dimension of this war, or these wars, I would say, because I think all of them are interconnected. The Gaza war, of course, what is happening in Lebanon and, of course, in Iran.
I do believe that there is a clear strategy from Prime Minister Netanyahu and his government to shift geopolitics in the Middle East and to create a new geopolitical reality in the Middle East. I don't know if the U.S. administration is aligned with that vision or not.
Sanchez called for diplomacy and de-escalation.
Good allies are like good friends. We tell each other the truth no matter what. And in my view, this war in Iran is a big mistake for the world and therefore for the US.
As for U.S. ally Israel, it has shifted from trying to destabilize Iran's regime to destroying its military industrial base. The Journal has learned that Israeli officials think President Trump could soon try to end the war, so Israel is now focused on wearing down Iran's ability to rebuild its military before the war ends.
It's another sign that Israel has given up on hopes of bringing down Iran's regime via attacks from the air. Since the U.S. and Israel launched their campaign against Iran, there have been nearly a dozen attacks on Jewish sites across Western Europe. No one has been killed, but officials fear that it's only a matter of time. Now authorities are investigating if Iran is involved.
They suspect Iranian agents recruited individuals online to carry out attacks on Jewish schools, synagogues, and companies linked to Israel and set up a bogus group to claim responsibility for them. Boyan Panchevsky, the journal's chief European political correspondent, joins me now. Boyan, why do European officials think Iran is involved in these attacks?
Well, basically, it's based on leads they've got in their investigations in several European countries, the United Kingdom, Belgium, the Netherlands, Germany and others. They've also detected these announcements from an alleged group that claims all these attacks. And they've come to the conclusion that this group is linked to known Iranian social media propaganda channels.
In some cases, the attacks were filmed or even streamed, and they were immediately linked to these channels that are known to belong to government agencies from Iran. So they basically believe the group doesn't exist as a group. It's just a sort of a cover, an online presence for what is being, they believe, organized by Tehran.
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