Dow Jones Today | US Stock Market LIVE Updates: Futures edge higher as Brent jumps 40% since war began
Published on 16/03/2026 06:07 PM
Wall Street banks led by JPMorgan Chase & Co. kicked off a $5.75 billion cross-border leveraged loan sale to help finance the buyout of video game maker Electronic Arts Inc., one of the largest transactions of its kind.
A $4 billion US dollar loan is being offered at a discounted price of around 98.50 cents on the dollar and a margin of 3.50 to 3.75 percentage points over a key benchmark. JPMorgan is also pitching a €1.53 billion loan, equivalent to about $1.75 billion, at similar pricing terms.
US President Trump may delay his China trip due to the Iran war, but Treasury Secretary Scott Bessent said Monday it’s not to pressure Beijing on the Strait of Hormuz.
Bessent said any delay to Trump’s trip to Beijing wouldn’t be because of disagreements over the Iran war or efforts to reopen the Strait of Hormuz.
“If the meeting for some reason was rescheduled, it would be rescheduled because of logistics,” he said. “The president wants to remain in D.C. to coordinate the war and travelling abroad at a time like this may not be optimal.”
Prime Minister Keir Starmer says Britain is working with allies on a plan to reopen the Strait of Hormuz, but “will not be drawn into the wider war.”
He spoke after US President Donald Trump said he’d demanded US allies send warships to open the key oil shipment route.
Starmer said Britain is discussing with the US and allies in Europe and the Gulf the possibility of using mine-hunting drones that the UK has in the region. But he signalled the UK is unlikely to dispatch a warship.
US President Donald Trump may delay his planned visit to China as the war with Iran continues to escalate, though US Treasury Secretary Scott Bessent said any postponement would not be intended to pressure Beijing over the reopening of the Strait of Hormuz.
The United States is allowing Iranian oil tankers to transit the Strait of Hormuz, Treasury Secretary Scott Bessent told CNBC in an interview Monday.
“The Iranian ships have been getting out already, and we’ve let that happen to supply the rest of the world,” Bessent told CNBC’s Brian Sullivan.
Meta shares moved higher in premarket trading on Monday after reports said the company plans to cut more than 20% of its workforce as it looks to manage rising spending on artificial intelligence this year.
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