- On Monday, the selloff in global risk assets grew as worries about accelerating inflation and a world recession persisted.
- The pound hit an all-time low and bond rates shot up to their highest level in more than a decade, drawing attention to the UK markets and igniting speculation of emergency action by the bank of England. After the government promised additional tax cuts, the market chaos caused by its fiscal plan on Friday exploded.
- While US futures fell on concerns that the economy may suffer as a result of federal reserve rate hikes intended to combat stubbornly high inflation, an index of global stocks traded close to its lowest level since 2020. After entering a bear market on Friday, European stocks continued to tumble, with mining and energy firms underperforming as metals and oil prices plunged.
