By Emma Tucker
With no end to the Iran war in sight, investors should be on the defensive. Shocks can tempt them into radical strategies, from fast trading to market timing, that purportedly raise returns. But as the Journal's Jason Zweig writes, moves based on geopolitical forecasts are often costly. If the conflict worsens, the smartest move, Jason says, is to avoid any portfolio changes that cannot be easily and cheaply undone.
Today's Headlines
The U.S. and its allies have intensified the battle to reopen the Strait of Hormuz, part of a multistage Pentagon plan to reduce the danger from Iranian armed boats, mines and cruise missiles.
Saudi Arabia projects oil prices will soar past $180 a barrel if energy disruptions in the strait persist until late April.
President Trump has privately told his inner circle that some of his administration's deportation policies have gone too far.
China has taken pride in its explosive growth over the decades. But now, its economy is falling behind because of deflation and a weak currency.
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Tesla finally has its first semi-truck and it's already a hit with truckers.
Elevated inflation and slowing growth are a poor combination for bank stocks, writes Telis Demos.
Read It Here First
This New York congressional race is turning into a bitter AI war.
Artificial-intelligence companies have pledged about $265 million for super PACs and similar groups ahead of this year's midterm elections. One big AI PAC is targeting Alex Bores, a computer scientist and New York state assemblyman who is running to represent a congressional district that covers much of Manhattan. Bores has faced $2 million in attack ads thus far. He had sponsored an AI safety bill that was signed into law by New York Gov. Kathy Hochul last year. The Bores campaign is a test case for the super PAC trying to send a message: Lawmakers who pursue safety standards not supported by giants like OpenAI will face the industry's wrath, report Maggie Severns and Amrith Ramkumar.
A legal fight between a pro gambler and a Hollywood power player is roiling Paramount.
Robert James "R.J." Cipriani, a professional gambler and self-professed fixer, has sued Paramount President Jeff Shell for fraud and breach of a verbal contract. The ugly legal battle between the two men has ensnared Paramount's controlling owners, David Ellison and his father, Oracle co-founder Larry Ellison. Even Trump, who is friendly with the Ellisons, has made an appearance in one of Cipriani's legal filings. The legal entanglement, now the talk of Hollywood executive circles, comes at an awkward time for Paramount, which needs regulatory approval for a hard fought $81 billion deal to acquire rival Warner Bros. Discovery, reports Joe Flint.
Expert Take
Q: With the IRS shorthanded and stressed, how can I avoid hard-to-fix tax problems?
Don't draw unwanted attention to yourself this tax-filing season. Reporter Laura Saunders shares three simple steps that can save you time and trouble with the IRS:
A: It seems unfair, but small tax missteps can cause big tax headaches. No wonder: The IRS has lost more than one quarter of its staff and is currently on its eighth leader since Trump took office. It's often impossible to reach the agency by phone.
So this year it's especially important to avoid triggering trouble with the IRS. We asked tax professionals for their suggestions.
Here are a few:
Joint-filing married couples should never switch the name order on their tax return compared with prior years, which will baffle the IRS's computers and likely take time to resolve.
This year, opt for direct deposit of your refund, because you could have to wait 10 weeks or more for a paper check.
Always respond to an IRS letter; don't assume the system will correct its mistakes, even absurd ones. And be sure to get and save proof of mailing.
See The Story
Southwest's CEO discusses the airline's $1 billion pivot.
Southwest Airlines was built on three pillars: low fares, friendly service and a quirky "sit anywhere" policy. But in a postpandemic market, the rules are changing. On the latest episode of the Bold Names podcast, CEO Bob Jordan joins WSJ's Tim Higgins to discuss one of the airline's most transformational periods in its 60-year history.
Happening Today
"Project Hail Mary," starring Ryan Gosling as a science teacher turned astronaut, lands in movie theaters. See what else is on in arts and culture this weekend.
Number Of The Day
$20
For this price, you can eat dinner at the country's top-ranked college dining hall. UMass Amherst has been ranked No. 1 for campus food in the country for nine years running, according to annual student surveys from the Princeton Review. To locals, it's the best buffet in town. The UMass dining halls are known for serving global cuisines worthy of the Michelin Guide to more than 30,000 students. They are also open to the public -- dinner is $20 and breakfast is $12.50 for visiting adults -- although the school doesn't advertise that.
And Finally. . .
Panama City Beach is done with rowdy spring break parties.
For decades, Florida's Panama City Beach was known as the "spring break capital of the world," a reputation forged by MTV crews, star-studded concerts and massive beach parties. But Panama City Beach has seen a recent wave of high-end new construction, which coincides with a concerted effort to rebrand itself as a family-friendly destination. Those factors, coupled with the Panhandle's newfound postpandemic popularity, are increasingly drawing wealthy home buyers willing to spend seven figures.
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March 20, 2026 06:24 ET (10:24 GMT)
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