- Stocks and US equity futures dipped as the dollar and government bonds surged, indicating widespread concern about the economy's prospects in the face of high inflation and China's troubles with Covid.
- The technology sector, as well as weakness in Japan and Hong Kong, drove down an Asian share index, while China was neutral. After a drop on Wall Street on Monday, the S&P 500, Nasdaq 100, and European contracts all lost roughly 0.5%.
- The dollar rose to levels last seen at the height of the market panic over Covid, while the yen surged, highlighting investor apprehension. Meanwhile, the eurozone's shared currency is approaching parity with the US dollar, despite the region's oil crisis and grave recession fears.
- Treasury yields rose again, bringing the US 10-yr yield to 2.96%. Bonds rose in Australia as well. Oil fell by roughly 1%. Bitcoin dropped below $20,000.
