- On Thursday, equities and bonds continued to decline as hawkish central bank rhetoric and a shutdown in China further roiled investor jitters. dollar increased.
- Miners led drops in Europe as commodities fell amid worries that aggressive tightening and China's downturn will reduce demand. A global market index hit a six-week low as NASDAQ 100 futures plummeted after a sales warning from Nvidia..
- Industrial metals declined as a result of China isolating Chengdu's 21 million citizens in order to limit a COVID-19 outbreak, while oil and natural gas declined due to Europe's consideration of alternative energy market intervention strategies. The yen fell to a 24-year low, and currencies related to commodities and the G-10 declined.
- In the meantime, Russia is considering a plan to purchase up to $70 billion in yuan and other friendly currencies this year in an effort to curb the rise of the ruble before switching to a longer-term strategy that involves selling its holdings in the Chinese currency in order to raise money for investment.
