- The dollar rose, bond yields rose, and Asian equities fell amid unrelenting pressure on risky assets as fears of rising inflation and a global recession grew.
- The pound-led global currency falls, falling to a record low as the UK chancellor promised to press through with tax cuts that threaten to fuel inflation. The euro sank as investors considered Italy's prospects under the most right-wing government since WWII.
- Shares in Japan and Australia fell, as a global market index fell to fresh lows for the year. Stock futures in the United States and Europe declined. Hong Kong stocks varied.
- "We're in a period of global gloom," said Ed Yardeni, warning of gathering storm clouds for the US economy. "The newest statistics are consistent with our growth recession assumption," he wrote in a note on Monday.
