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By STAN CHOE, AP Business Writer

NEW YORK (AP) — U.S. stocks slumped on Tuesday under the weight of another jump for the price of oil. It was a return to form for financial markets after Wall Street’s worries about Israel’s fighting with Iran had seemed to calm a bit on Monday.

The S&P 500 fell 0.8% following signals that the Israel-Iran conflict may be worsening and that one of the U.S. economy’s main engines is weakening. The swing sent Wall Street’s main measure of health nearly back to where it started the week.

The Dow Jones Industrial Average dropped 299 points, or 0.7%, and the Nasdaq composite fell 0.9%.

Stocks sank under increasing pressure from crude oil prices, which climbed in their latest see-saw move. A barrel of benchmark U.S. crude jumped 4.3% to $74.84. Brent crude, the international standard, added 4.4% to $76.45 per barrel.

Their gains accelerated after President Donald Trump raised the temperature on Israel’s fight with Iran by calling for “UNCONDITIONAL SURRENDER!” on his social media platform and saying, “We are not going to” kill Iran’s leader, “at least for now.” read more

By JOEY CAPPELLETTI, MARY CLARE JALONICK and ALAN SUDERMAN, Associated Press

WASHINGTON (AP) — The Senate passed legislation Tuesday that would regulate a form of cryptocurrency known as stablecoins, the first of what the industry hopes will be a wave of bills to bolster its legitimacy and reassure consumers.

The fast-moving legislation, which passed by a 68-30 vote and will be sent to the House for potential revisions, comes on the heels of a 2024 campaign cycle in which the crypto industry ranked among the top political spenders in the country, underscoring its growing influence in Washington and beyond.

Eighteen Democratic senators crossed the aisle to vote for the legislation on Tuesday, siding with the Republican majority in the 53-47 Senate. Republican Sens. Josh Hawley and Rand Paul were the only members of their party to oppose the measure.

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By MICHELLE CHAPMAN, AP Business Writer

Kraft Heinz will be pulling artificial dyes from its U.S. products starting in 2027 and will no longer roll out new products with the dyes.

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The move comes nearly two months after U.S. health officials said that they would urge foodmakers to phase out petroleum-based artificial colors in the nation’s food supply.

Kraft Heinz said Tuesday that almost 90% of its U.S. products already don’t contain food, drug & cosmetic colors, but that the products that do still use the dyes will have them removed by the end of 2027. FD&C colors are synthetic additives that are approved by the U.S. Food and Drug Administration for use in food, drugs and cosmetics. read more

Fewer public adjusters might be available to help policyholders settle claims with insurance companies if a new payout policy quietly being rolled out by Citizens Property Insurance Corp. becomes adopted across the rest of the industry, the director of the state’s public adjuster association is warning.

Like attorneys, public adjusters are hired by policyholders to represent them in determining values of insurance claims. Typically, they take over communication with insurance companies until agreements are reached and secure higher settlements than policyholders working on their own.

Adjusters in Florida say they were shocked to receive letters from state-owned Citizens Property Insurance Corp. alerting them that their names will no longer be included as co-payees on claims settlement checks sent to policyholders.

A letter from Citizens started going out to public adjusters early this month, worded as a response to requests for information about why their names were not on recently sent checks. read more

By JILL LAWLESS, Associated Press

KANANASKIS, Alberta (AP) — U.S. President Donald Trump and British Prime Minister Keir Starmer said Monday that they had signed a trade deal that will slash tariffs on U.K. auto and aerospace industry imports — but they are still discussing how to handle steel production.

The pair spoke to reporters at the Group of Seven summit in the Canadian Rockies, with Trump brandishing the pages of what he said was a long-awaited agreement. The rollout was anything but smooth, however, as Trump dropped the papers and at first said his administration had reached an agreement with the European Union when he meant the United Kingdom.

The president nonetheless insisted the pact is “a fair deal for both” and would “produce a lot of jobs, a lot of income.”

“We just signed it,” Trump said, “and it’s done.”

Starmer said it meant “a very good day for both our countries, a real sign of strength.”

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