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Oil surges to its highest price since 2023, and stocks drop after a weak update on the US job market

NEW YORK (AP) — Oil shot to its highest price since 2023 after surging again Friday because of the Iran war, and a weak update on the U. S. job market knocked stocks lower to cap Wall Street’s worst week since October. The S&P 500 dropped 1. 3% after a report showed U. S. employers cut more jobs last month than they created and after oil prices spiked above $90 per barrel. The combination of a weak economy and high inflation is a worst-case scenario for investors because the Federal has a...

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