- The dollar increased to a new record high as the White House played down the possibility of the currency faltering, while UK bonds soared after the Bank of England announced it would temporarily acquire long-dated government bonds in an effort to restore market stability.
- The BOE also announced that it would delay the start of its quantitative tightening bond sales, which were scheduled to start next week. The 30-year gilt yield plunged as much as 65 basis points to 4.34%, the worst decline since 1996, erasing an earlier increase to the greatest level since 1998. The pound originally increased before declining as the government's fiscal strategy came under increasing international criticism.
- US futures were volatile, while European stocks fell for a sixth day as investors fled the region at rates last seen during the Euro area debt crisis, according to strategists at CitiGroup Asian stocks declined.
- In the meantime, natural gas prices in Europe increased when Russia threatened to stop supplying the country through Ukraine, and the German navy was called in to look into possible sabotage of the Nord Stream pipelines. Despite a number of military setbacks in its seven-month-old war, Putin pushed to acquire a sizable portion of Ukrainian land.
