- As investors braced for a significant interest rate increase from a hawkish federal reserve, Asian equities opened lower after us shares fell and treasury rates hovered near multiyear highs.
- After the S&P 500 index lost more than 10% of its value from the high set in August, which served as the culmination of its recovery from this year's low, stocks tumbled in Australia, Hong Kong, and Japan. While US contracts changed, European stock futures declined.
- As traders assess the possibility that monetary tightening could cause the economy to enter a recession, 2-yr bond rates have retreated from levels close to 4%. Before making a policy decision later this week, the BoJ announced an unplanned bond-purchase operation in an effort to curb yield pressure.
- In the midst of the market turbulence, a dollar index traded close to a record high, while Bitcoin remained under pressure below the $19,000 mark.
- When the central bank releases updated economic estimates on Wednesday, Fed officials will be able to quantify the pain they have been predicting.
