Stocks are falling as Apple and Microsoft raise prices, inflation jumps, and the Iran conflict flares up again — bad news for investors and shoppers alike.

• Apple raised prices on Macs, iPads, Apple TV, and more by up to 20%, and its stock dropped about 6%.
• Microsoft is hiking Xbox prices too, blaming memory and storage costs that have more than doubled and may double again by late 2027.
• The price spikes are driven by an AI-fueled scramble for chips and memory, as everyone races to build AI data centers.
• Inflation jumped past 4%, the highest in three years, partly because of the Iran conflict — and the Fed is now talking about raising rates again.
• Americans are getting squeezed, with the savings rate down to 3%, one of the lowest in 15 years.
• Oil is rising again after Iran attacked a cargo ship in the Strait of Hormuz, and a record heat wave is straining Europe's power grid.

Outlook: With prices climbing, the Fed leaning toward rate hikes, and the Iran conflict back in play, more market pain looks likely in the near term.