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The US trade deficit widened in February but came in lower than expected, according to data from the Commerce Department.The gap in goods and services stood at $57.3 billion, up 4.9% from January, but below the $62 billion estimate.On a broader basis, the deficit has narrowed significantly compared to last year, dropping sharply from levels seen when businesses ramped up imports ahead of tariff announcements. The two-month deficit is down nearly 55% year-on-year, with the overall deficit about 16% lower than 2024 levels.Initial jobless claims in the US fell more than expected last week, pointing to continued strength in the labor market.First-time filings for unemployment benefits came in at a seasonally adjusted 202,000 for the week ended March 28, down 9,000 from the previous week and below the 212,000 estimate, according to the Labor Department.Continuing claims, which are reported with a one-week lag, declined by 25,000 to 1.841 million. The four-week average also edged lower to 1.838 million, marking its lowest level since late September 2024.

Bitcoin declined on Thursday, slipping back toward its yearly lows as broader risk sentiment weakened.

The cryptocurrency fell around 3% to $66,172, pressured by a wider pullback in risk assets following President Donald Trump’s remarks on the Iran conflict, which dampened recent recovery optimism.Crude oil prices moved sharply higher following President Donald Trump’s address, even as recent volatility continues to drive swings in sentiment. US benchmark West Texas Intermediate rose 7% to settle near $107 per barrel, while Brent crude climbed 7% to just above $108.Brent has surged roughly 40% since the conflict began in late February, reflecting concerns over potential supply disruptions. While a brief pullback earlier this week had supported market sentiment, the latest escalation signals have once again pushed oil prices higher.Layoffs at major US companies rose 25% in March, with artificial intelligence emerging as the top reason for job cuts, according to data from Challenger, Gray & Christmas.Employers announced 60,260 job reductions during the month, up from February but still 78% lower than the same period last year. For the first quarter, total layoffs stood at 217,632 — the lowest for the period in four years and down 56% year-on-year.AI-related cuts accounted for 15,341 roles, making up roughly a quarter of all layoffs. Hiring plans, however, picked up sharply, rising 157% month-on-month to 32,826, although year-to-date hiring remains 6% lower.Oil prices spiked sharply on renewed geopolitical concerns, reversing the optimism seen in the previous session. West Texas Intermediate crude futures were last up 7.9% at $107.98 a barrel, while Brent crude futures advanced 7.3% to $108.59.The move comes as markets reassessed expectations of a near-term resolution to the conflict, with sentiment turning cautious after earlier signs of easing tensions.“Markets have reversed the continued positive momentum they’d seen yesterday amid rising hopes that an end to the conflict might be coming into view,” Deutsche Bank strategists said, highlighting the sharp shift in risk sentiment.US stock futures dropped sharply on Thursday after Donald Trump indicated that the conflict with Iran is likely to continue, dampening investor sentiment and lifting oil prices.Futures tied to the Dow Jones Industrial Average fell 541 points, or 1.2%, while S&P 500 futures declined 1.4%. Futures on the Nasdaq-100 dropped 1.7%, reflecting broad-based risk aversion.The move comes as oil prices surged amid concerns that a prolonged conflict could disrupt global energy supplies. Donald Trump’s remarks reinforced fears that geopolitical tensions in West Asia may persist, keeping volatility elevated across markets.

US stock futures declined sharply, reflecting risk-off sentiment after President Donald Trump struck a more hawkish tone on Iran than markets had anticipated. Futures linked to the Dow Jones Industrial Average fell 1.1% versus fair value, while S&P 500 futures dropped 1.25%. Nasdaq 100 futures led losses, sliding 1.6%.

The move came alongside a sharp rebound in crude prices. US crude surged nearly 5% to around $105 per barrel, reversing earlier losses that had briefly pulled prices to about $98 before Trump’s remarks.

Bond yields also edged higher, with the 10-year Treasury yield rising a few basis points to 4.38%, signalling some pressure on fixed income amid the geopolitical uncertainty.

US Futures declined sharply after US President Donald Trump threatened of more attacks on Iran in the coming few weeks.

Dow Futures are down 400 points, Nasdaq futures are down 340 points, while S&P futures have declined 1.1%.

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