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Hey listeners, it's Saturday, March 21st. I'm Hannah Aaron Lang for the Wall Street Journal,

and this is What's News and Markets, our look at the biggest stock moves of the week and the

news that drove them. Let's get to it. The vibes in financial markets did not get much better

this week. There were a lot of big losers, including gold and the companies

that mine the precious metal, chipmaker-micron technology in spite of its eye-popping earnings,

and Super Micro Computer, whose co-founder got on the wrong side of U.S. prosecutors this week.

But more on that later. First, let's talk about oil, which is really all that anyone is talking about since

the war in Iran began three weeks ago. At the beginning of the week, U.S. stocks shrugged

off energy concerns, rising with hopes that perhaps a coalition of countries would work together

to open the Strait of Hormuz, the key thoroughfare for a fifth of the world's oil supply. But the mood shifted

on Wednesday when the Federal Reserve announced its latest move on interest rates. Policymakers

opted to leave rates unchanged, which is pretty much what Wall Street expected. But then, at a press

conference after the decision, Fed Chair Jerome Powell made remarks that

investors didn't find very comforting.

He highlighted the inflation risks posed by the war in Iran and said the central bank was in

a, quote, difficult situation, end quote.

That really weighed on stocks, and investors slashed their bets that the central bank would

...