Fox Business host shares terrible news about US economy: ‘It’s a blood-stained hellscape… bad news all around’
March 31, 2026 | Kevin Haggerty
Ongoing instability in the Middle East has rippled into one corner of the economy like a “blood-stained hellscape,” according to one Fox Business analysis.
“It’s bad news all around, isn’t it?”
Saturday marked four weeks since Operation Epic Fury commenced military strikes against Iran’s Islamist regime, and in that time, the price of crude oil has climbed roughly 50%. Addressing the broader impact that has on the economy, Fox Business host Stuart Varney turned to his guest, anticipating a dire impact on housing.
Joined by Circle Squared Alternative Investments founder Jeff Sica, the host of “Varney & Co.” expressed, “Jeff, we’ve got oil this morning at $102 a barrel, and we’ve got gasoline at $4 a gallon. What’s the effect of these high energy prices on the housing market? It’s bad news all around, isn’t it?”
“It is bad news, Stuart. And high energy prices are kryptonite for the housing market,” contended the investor. “The best way to describe the housing market has been a blood-stained hellscape because of what’s happening with interest rates.”
Admitting, “I’m being a little overly dramatic,” Sica continued, “What I would say is, if you look at what we were hoping for, we were hoping for rates to come down and for mortgages to be affordable. We were also hoping for construction costs to come down.”
“Now we get hit with this double wave of negatives, which are … construction costs are going up — because when oil goes up in price, everything goes up in price — and mortgage rates are not gonna come down,” he went on, explaining the trend between the U.S. 10 Year Treasury yield and mortgage rates. “… affordability, especially for those first-time home buyers, is now an elusive dream until oil prices come down and interest rates come down.”
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https://www.bizpacreview.com/2026/03/31/fox-business-host-shares-terrible-news-about-us-economy-its-a-blood-stained-hellscape-bad-news-all-around-1630201/
