- As investors evaluated hawkish words from Federal Reserve members and anticipated remarks by chairman Jerome Powell for hints on the trajectory of interest rates, Wall Street equities futures and stocks in Europe slumped.
- Both the S&P 500 and NASDAQ 100 contracts decreased by roughly 0.3%. After a failed attempt to launch the first satellites of Great Britain from its own territory, As retail companies led falls, the Stoxx Europe 600 index dropped from an eight-month high.
- As global inflation slows, traders looking for a speedy stop to aggressive rate hikes received a reality check on Monday when San Francisco Fed President Mary Daly said she anticipates the central bank raising rates to a level over 5%. She should raise interest rates over 5% by the beginning of the second quarter, according to her Atlanta counterpart Bostic, and then put them on hold for a long period. At a later gathering in Sweden, Powell makes a speech.
