Exclusive: Trump's approval hits new 36% low as fuel prices surge amid Iran war, Reuters/Ipsos poll finds

- Trump's approval falls to 36% amid rising fuel prices
- One in four approve of Trump's handling of cost of living
- 35% approve of U.S. strikes on Iran, down from 37%

Recession odds climb on Wall Street as economy shows cracks beneath the surface

Economists have pulled up their risk assessments of a U.S. contraction amid heightened uncertainty over geopolitical risk and a labor market that for the past year has shown strains.

"I'm concerned recession risks are uncomfortably high and on the rise," said Mark Zandi, chief economist at Moody's Analytics. "Recession is a real threat here."

Twin concerns about growth and unemployment have triggered talk of stagflation, a characterization that Fed Chair Jerome Powell has rejected.

But the threat of a prolonged war, pressure on consumers and a labor market that, outside of health care, lost hundreds of thousands of jobs last year has kept concerns elevated.