If prices go up, Fed officials may be inclined to raise its benchmark rate, raising borrowing costs for businesses and consumers. That could lead to businesses to cut jobs, particularly in the high-growth tech sector, and force Americans to pull back on spending, which drives more than 70% of economic activity in the U.S.

The Dow dropped more than 750 points Friday as investors fret over the risk of a widening war in the Middle East.

Iranian missiles hit at least seven sites near Tel Aviv Friday, following Israeli strikes on Tehran’s military and nuclear sites.

Tensions between Iran and Israel escalated early on Saturday amid several waves of airstrikes against each other, after the latter launched its biggest-ever offensive in a bid to prevent its longtime foe from developing a nuclear weapon.

Rising tensions with Iran and fears of an Israeli strike prompted the U.S. to move some of its nonmilitary personnel out of the region.

US shifts military resources in Middle East in response to Israel strikes and possible Iran retaliation, officials say.

German Foreign Minister Johann Wadephul had to change his trip in the Middle East, dropping a stop in Israel, after the country launched a barrage of strikes across Iran earlier on Friday.

Airspace was closed over Israel, Jordan, Iran and Iraq on Friday after Israel attacked Iran with a wave of airstrikes.