Rising gas prices, higher mortgage costs, and the Iran conflict are squeezing regular Americans, and Trump's approval is sinking as voters feel the pain.

• G7 finance ministers are scrambling to contain economic fallout from the Iran conflict, with the US begging others not to dump its debt.
• Gas prices are climbing past $4 a gallon, and mortgage rates are jumping as government bond yields rise on inflation fears.
• Low-cost airlines like Ryanair are warning of an "Armageddon scenario" from jet fuel costs, and weaker carriers like Spirit may not survive.
• Regular people say they are working for free — gas, food, and car costs eat up paychecks, and some former Trump voters are publicly asking for help.
• Trump's approval has dropped to 37%, with 64% calling the Iran war the wrong decision and 69% disapproving of his handling of the cost of living.

Outlook: If gas and borrowing costs stay high, more layoffs and household pain are coming, and Republicans look set for heavy midterm losses.