NPR News: 03-11-2026 10AM EDT

The U.S. military sank sixteen Iranian vessels today in the Strait of Hormuz, a narrow waterway that is now effectively closed. The Pentagon said the vessels were capable of placing mines. Reports indicate the U.S. and Israel continue to hit sites within Iran, with multi-story residential buildings flattened in Tehran and damage emerging from centuries-old landmarks in Tehran and cities like Isfahan, three hundred miles south of the capital.

Markets and Inflation Amid War

Stocks opened mixed this morning as investors digested a fairly mild inflation report. NPR's Scott Horsley reported that the Dow Jones industrial average slipped about eighty points in early trading. A new report from the Labor Department shows annual inflation in February was 2.4 percent, about what forecasters had expected and similar to the previous month. However, the March cost of living index could be much uglier. The U.S. war with Iran has triggered a spike in gasoline prices; Triple A says gas prices have jumped about sixty cents a gallon since the war began. Gas prices were already creeping up last month, along with rent and grocery prices, though falling prices for used cars and auto insurance helped keep the February figure in check. The Campbell Soup Company is forecasting a drop in sales this year, saying lower-income shoppers are cutting back and that tariffs are raising costs.