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Oil hit $100 a barrel and Magnificent 7 stocks shed nearly $800 billion in market value on Thursday, as pessimism over steep AI spending and the Iran war dragged down global markets.

The levies replace tariffs expiring on Friday.

Taylor Farms contributed $2 million to Trump and Republicans as they postponed a rule to help the government limit the spread of foodborne illnesses.

There’s still a lot of talk in Washington about bipartisan deals. But Republicans will be lucky to avoid a pre-election shutdown.