. SMH (AUSTRALIA)
ASX goes into correction with $80b rout
The Australian sharemarket plunged into correction territory on Tuesday after US inflation numbers indicated interest rates will need to rise more than financial markets expected.
. RTT NEWS (US)
Asian Shares Mostly Lower On Recession Fears
Asian stocks ended mostly lower on Tuesday after Wall Street entered the bear market on fears that aggressive rate tightening by the Federal Reserve would push the world’s largest economy into recession.
. CNBC (US)
European stocks whipsaw as investors assess recession risk
European stocks were choppy on Tuesday after sharp declines in global markets on Monday, amid fears that central banks will be forced into aggressive monetary policy tightening with inflation remaining high.
. REUTERS (UK)
Oil prices rise as tight supply counters China Covid, recession worries
Oil prices rose on Tuesday as tight global supply outweighed worries that fuel demand would be hit by a possible recession and fresh Covid-19 curbs in China.
Spot gold ticks up as dollar rally pauses, rate hike bets curb gains
Gold prices steadied after early losses on Tuesday as a pullback in the dollar provided some respite, but expectations the Federal Reserve will resort to aggressive policy tightening to tame inflation capped gains.
. WSJ (US)
Stock Futures Edge Higher After Slide Into Bear Market
U.S. stock markets were poised for a modest recovery after a rout that sent the S&P 500 into a bear market, while bitcoin remained under pressure after selling off sharply in recent days.
. FINANCIAL TIMES (UK)
Wall Street braced for sharp Fed rate rise to fight soaring inflation
Expectations grow that US central bank will raise borrowing costs by 0.75 percentage points