- Concerns about a dimming economic outlook echoed around global markets on Tuesday, sending equities down and bonds up.
- An Asia-pacific market index plummeted to its lowest level since July 2020, because of falls in technology stocks in Japan, China, and Hong Kong. After US equities fell to a 13-month low, S&P 500 and Nasdaq 100 futures sank.
- Treasury prices rose as the yield curve steepened, showing demand for safe haven assets and concern about how far the Federal Reserve may raise rates to combat high inflation. The 10-yr yield in the US fell below 3% at one point.
- Oil went below $100 a barrel as a result of economic worries and the EU's decision to ease some proposed sanctions on Russian oil related to the Ukraine conflict.
- The dollar index is at its highest level since 2020, while the yuan is under pressure due to China's economic slowdown and Covid lockdowns.
- Bitcoin, the most popular cryptocurrency, has fallen to its lowest levels since mid-2021, a drop that has come to symbolise dwindling liquidity.
