US greenback on the highs of the day
It is ugly in fairness markets, notably within the Nasdaq, which is down 3.8%. Do not say Dalio did not warn you.
The strikes are spreading past tech with the VIX as much as 26 and S&P 500 down 55 factors to 3821. In FX, it is manifesting itself as promoting commodity currencies, partly as a result of commodity costs are giving again a number of the current beneficial properties.
The greenback and yen are additionally broadly bid.
Powell is due up in 10 minutes and if he is something lower than his regular ultra-dovish self, it’ll worsen. He will get grilled about inflation.
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