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Market declines sparked by the Iran war are morphing into a full-blown rout across Wall Street. Efforts to broker an end to the fighting and restart the flow of Middle East oil produced only further escalation, which in turn fueled an ever-greater sense of dread in markets. The Nasdaq 100 fell 1.9% on Friday alone and sank into correction; the S&P 500 slipped for a fifth week, capping its longest losing streak since 2022; bonds fell, pushing the benchmark 30-year yield towards 5%; and Bitcoin is at about half its pre-war peak.  The bond selloff has been driven not only by rising inflation expectations but also by a repricing of what central banks intend to do next, a shift playing out from Washington to Frankfurt to Tokyo. Kathy Jones, Chief Fixed Income Strategist at Schwab Center for Financial Research, joins Bloomberg Businessweek Daily to discuss. She speaks with Tim Stenovec and Isabelle Lee.

The US and Israel bombed Iranian nuclear and steel facilities on Friday, while Iran retaliated across the Persian Gulf, causing markets to sink and oil prices to rise amid fears an extended Middle East conflict will drag down the global economy. Airstrikes on Friday targeted a heavy water research reactor that's part of Iran's Arak nuclear complex and a yellow cake production plant in Yazd province, as well as two of the country's biggest steelmakers, according to Iranian state media reports. Spencer Faragasso, Senior Fellow with the Institute for Science and International Security, joins Bloomberg Businessweek Daily to discuss. He speaks with Tim Stenovec and Isabelle Lee.

The Trump administration is signaling to allies that it has no immediate plans for a ground invasion of Iran, even as it deploys thousands of troops to the Middle East, people familiar with the matter said. The people, who asked not to be identified discussing private deliberations, cautioned that President Donald Trump could change his mind at any moment or go ahead with an attack. A risk-off mood continued to grip markets Friday, with major US indexes entering correction territory as investors grow increasingly skittish on geopolitical risk. Bloomberg News National Security Editor Iain Marlow joins Bloomberg Businessweek Daily to discuss. He speaks with Tim Stenovec and Isabelle Lee.

Michael Anderson, Citigroup Global Head of Credit Strategy, addressed recent large redemptions in private credit funds, highlighting liquidity and credit mismatches as key issues. He speaks with Katie Greifeld and David Gura on "The Close."

Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Katie Greifeld, Tim Stenovec, David Gura, Isabelle Lee.

Jim Caron, CIO of the Portfolio Solutions Group at Morgan Stanley Investment Management, says the recent surge in oil prices has triggered a price shock, leading to a corresponding decline in equity prices as future cash flows are discounted more heavily. He speaks on "Bloomberg The Close."

Dominique Toublan, head of US credit strategy at Barclays, says the concerns surrounding private credit are not systemic. He joins Scarlet Fu alongside Winnie Cisar, global head of credit strategy at CreditSights, on "Bloomberg Real Yield."

The war in Iran has reshaped the dynamics between the United States and China, delaying a planned summit between President Trump and President Xi and exposing competing priorities. Former US Ambassador to China Nicholas Burns says Beijing is balancing its political ties to Iran with its deeper economic reliance on Gulf energy supplies, while avoiding direct involvement in the conflict. As Washington and Beijing look ahead to renewed talks on trade, supply chains, and security, the episode highlights both the limits of China's global influence and the broader competition between the two powers.

Michelle Giuda, CEO of the Krach Institute for Tech Diplomacy at Purdue, says the key to getting out in front of China in the AI race will be relying on US allies to support the American tech stack around the world. Giuda speaks with Ed Ludlow on "Bloomberg Tech."

Apple plans to open Siri to outside artificial intelligence assistants, a major move aimed at bolstering the iPhone as an AI platform. Bloomberg's Mark Gurman discusses what's driving the move with Ed Ludlow on "Bloomberg Tech."