- The reappearance of covid-19 in China and elsewhere contributed to fears about the crisis in Ukraine and expected Federal Reserve tightening, causing u.s. index futures to vary and equities in Europe to fall. A selloff in commodities was headed by crude oil.
- After the Nasdaq finished in a bear market on Monday, fluctuations in the s&p 500 and Nasdaq 100 futures foreshadowed another tumultuous day ahead for US markets. Basic resources, consumer, and technology companies led a broad-based loss in the Stoxx Europe 600 index, which lost more than 1.5%.
- As traders reviewed the probable impact of delays in Russian oil supply and a drop in demand from China, WTI crude oil slipped below $100 a barrel. For the sixth day in a row, iron ore futures have fallen, the longest losing sequence since September. Lockdowns in key Chinese cities are dampening economic development prospects and presenting dangers to energy and raw-materials demand, while fears over the country's relationship with Russia fuel a continuous market selloff.
- The virus is also making a comeback in Europe, with Germany setting a new record for infection rates for the fourth day in a row on Tuesday. Since the relaxation of limitations on February 25, instances in Austria have hit new highs, while cases in the Netherlands have doubled.
- According to the ZEW, a recession is becoming increasingly likely.
- Ukraine authorities issue country-wide air raid warning.
- France's Finance Min. Le Maire: New sanctions package to be implemented today.
- UK's Finance Minister Sunak: I am convinced that our labour market is in a strong position to deal with the present global issues.
- Large explosions in Kyiv, these could possibly be cruise missile strikes - ELINT News.
