- Stocks dipped on Monday as fears about the economy were heightened by high inflation, tightening monetary policy, and China's Covid lockdowns.
- After US stocks experienced one of their worst monthly falls since the pandemic roiled markets in 2020, equities in Japan, Australia, and South Korea fell, while S&P 500 and Nasdaq 100 futures wavered.
- The stock market's decline, rising bond yields, and the strength of the currency are tightening financial conditions ahead of expected interest-rate hikes in the US, the UK, and Australia.
- Bonds in Australia and New Zealand retreated on Friday, while treasuries fell. The dollar index was near its highest point since 2020.
- The offshore yuan fell as statistics showed a steep drop in Chinese economic activity, owing to idle factories and clogged supply lines.
