- Asia's stocks recovered much of their earlier losses after Biden said a missile that struck Poland was unlikely to have been fired from Russia.
- Following earlier gains, the dollar barely changed. The dollar rose but equities dipped as Asian markets started following news that an explosion that killed two people was caused by a Russian-made rocket.
- Biden called a meeting of leaders at the Group of 20 summit to discuss the missile incident, which dampened earlier optimism about the Federal Reserve slowing interest-rate hikes.
- On Tuesday, US markets rose as producer price index data missed estimates, easing inflation concerns and strengthening the case for a delay in rate hikes. A succession of Fed speakers in recent days have suggested that the central bank may delay the pace of rate hikes while cautioning that more effort is required to keep inflation under control.
