- Tuesday's markets battled to find direction as traders evaluated the possibility of a halt in the rate hike cycle in the US versus evidence that tighter monetary policy may be required for a longer period of time.
- Following the S&P 500's third day of losses on Monday, contracts for the index swayed. A seven-week surge in a measure of European stocks lost momentum, sending it down. The dollar increased for a second day, indicating a demand for havens.
- Optimism about a reopening in China is being tempered by a strong us economy and persistent inflation, and money market futures and economists believe the Fed will need to raise rates higher than initially anticipated.
