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Dow closed 450 points down and S&P dipped 1.7% while Nasdaq fell 2.3% into correction territorySign up for the Breaking News US email to get newsletter alerts in your inboxUS markets saw their biggest slump since the start of the US-Israel war with Iran on Thursday as Donald Trump said the conflict’s impact on oil prices had not been as bad as he expected.The Dow closed 450 points down, while the S&P 500 dipped 1.7%. The tech-heavy Nasdaq fell 2.3%, plunging into correction territory, which happens when an index falls at least 10% below its most recent peak. Continue reading...

Rationing is not under consideration yet as hundreds of retailers report being without one or more types of fuelGet our breaking news email, free app or daily news podcastPetrol stations are reporting a surge in demand of up to 25% in the last fortnight alone on top of already major spikes earlier in the Iran war as Anthony Albanese comes under pressure to devise a national plan to cushion Australia against the “biggest energy crisis in history”.The Australasian Convenience and Petroleum Marketers Association has revealed the scale of the demand on retailers, which has left hundreds of stations across the country without one or more types of fuel. Continue reading...

PM Sanae Takaichi says about 80m barrels of stockpiled oil to be provided to refiners – equivalent to 45 days of domestic demand • Middle East crisis – live updatesJapan will begin the biggest-ever release of oil from its strategic reserves this week, the prime minister, Sanae Takaichi, has said, as the country braces for possible shortages caused by the US-Israel war on Iran.The government last week approved the release of 15 days’ worth of private-sector reserves, amid concern that the conflict in the Middle East will continue to hinder the flow of tanker traffic along the strait of Hormuz. Continue reading...

Carriers warn they cannot hold off passing on costs for long and some airlines plan to increase flights via AsiaBusiness live – latest updatesEurope’s biggest airlines have said that that the spike in fuel prices caused by the war in the Middle East will drive up fares and are advising passengers to book early.While carriers have partly hedged the price of jet fuel, bosses said they could not avoid passing on additional costs to passengers for long. Continue reading...

National Rally leader urges voters to back party’s ‘common sense’ campaign in final round as it eyes taking another cityJordan Bardella, the head of France’s far-right National Rally (RN) and a potential candidate in next year’s presidential race, has called on voters to back what he called his party’s “common sense and order” campaign in the final round of municipal elections next week.As the first-round municipal election results trickled in on Sunday night, the anti-immigration RN held on to the biggest city it runs: Perpignan. Louis Aliot was re-elected in the first round as mayor of the city, which has a population of 121,000 and is close to the Spanish border. Continue reading...

The errors that quantum computers make are holding the technology back. But recent progress in quantum error correction has excited many researchers

The end-Permian extinction 252 million years ago wiped out over 80 per cent of marine species, but many ecosystems still had complex food webs despite the losses

The speed at which artificial intelligence is gaining in mathematical ability has taken many by surprise. It is rewriting what it means to be a mathematician