- A sharp selloff in large technology companies dragged down stocks on Friday, capping off a week of wild swings in financial markets.
- Traders have had a lot to think about in the last few days, from Federal Reserve Chair Jerome Powell's hawkish stance to uncertainty about how the omicron coronavirus outbreak will affect global reopening.
- A mixed jobs report in the United States did nothing to avert another bout of intense volatility. The reason for this is that there is a widespread belief that the data will not be game-changers, with policymakers likely to accelerate the tapering of asset purchases in the face of elevated inflation.
- The stock market's weekly decline has been extended. Tesla fell about 6.5%, and Facebook parent Meta Platforms approached a bear market after a 19.7% drop from a recent peak. Apple fell after news broke that the phones of a number of US State Department employees had been hacked.
- China's companies listed in the United States fell amid plans by ride-hailing giant Didi Global to exit American exchanges and regulators' plans to force foreign firms to open their books or risk delisting.
- The US Treasury once again stopped from labeling any foreign economies as currency manipulators, while maintaining that Taiwan and Vietnam met all three criteria for the designation.
