Gas prices hit low-income consumers, falling markets hurt high earners
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Gas prices hit low-income consumers, falling markets hurt high earners

By CNBC
April 3, 2026, 5:04 PM EST
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CNBC: Higher oil prices from the Iran war are impacting both lower and higher-income households, with wealthier consumers also feeling the strain. Bank of America data shows a growing disparity in spending behavior, highlighting the K-shaped economy.

Summary: Rising oil prices due to the Iran war are affecting lower and higher-income households differently, leading to a widening gap in spending patterns and consumer sentiment. Wealthier individuals are starting to show concerns about the economic outlook.

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TAGGED #@LCO26K#Bank of America Corp#Barclays PLC#Breaking News: Economy#Breaking News: Markets#business news#Economic events#Economy#Energy Select Sector SPDR Fund#Goldman Sachs Group Inc#Invesco DB Oil Fund#Investment strategy#iran#LP#Markets#S&P 500 Index#Stock markets#United States#United States Oil Fund#Wall Street
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