U.S. markets are reeling from inflation hitting a near 13-year high. Nearly all sectors tumble into the red with the Dow reporting its single-worst session since the beginning of the year. The Nasdaq posts the biggest declines, with Apple losses leading the way. Meanwhile, Tesla CEO Elon Musk announces the electric car maker will no longer accept Bitcoin as payment due to environmental concerns related to electricity use in crypto-mining.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A wild rollercoaster Wall Street session sparks inflation fears, pushing stocks lower across Asian markets. The Nasdaq ends up on the flatline while the Dow records its worst day since February, tumbling 500 points. St. Louis Fed Chairman James Bullard becomes the latest central banker forecasting higher inflation. Bullard tells CNBC that talk of tapering is premature while the effects of the pandemic still resonate in some parts of the economy. Last Friday’s Colonial Pipeline ransomware attack is being felt at the pumps with gasoline supplies tightening and forecourt queues forming across the U.S. east coast. A decision on fully reopening the facility is expected today. Meanwhile, violence flares in the Middle East as Hamas and Israeli forces exchange rocket fire. The UN warns the situation could spiral into full-blown war. And in autos news, Nissan has forecast a third consecutive year of losses, causing shares to nosedive into the red. The Japanese car giant’s operations have been hampered by the global semi-conductor shortage.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Inflation fears weigh on Asian markets and U.S. futures amid accelerated rotation out of high-growth tech stocks. Tesla shares have slumped more than 6 per cent. In Japan, Softbank and Tokyo Electron lead a steep decline in the Nikkei. China’s April manufacturing prices rise at the fastest pace in more than three years but consumer prices remain weak on the back of price rise fears related to the global semi-conductor shortage. Meanwhile, U.S. petrol prices soar to an 8-year high, as the Colonial Pipeline remains disabled following the weekend ransomware attack. The hacking group responsible - believed to be based in Russia - apologised for its actions, while American investigators continue their probe. And in pharma news, Pfizer-Biontech’s vaccine will soon become available to young teenagers in the United States following successful tests by the FDA.    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

A major U.S. fuel pipeline suffers a cyber attack, shutting down facilities serving up to 50 million people. NBC News sources learn Russian criminal groups may be responsible for the ransomware hacking on Colonial Pipeline. The U.S. government has issued an emergency declaration following the incident, with oil prices moving higher. In broader markets, Wall Street hits new highs on Friday despite the April U.S. jobs numbers coming in below expectations. Scottish First Minister Nicola Sturgeon has launched a renewed push for a second independence referendum following the SNP’s resounding victory in last Thursday’s elections. There is fresh discord between Brussels and Washington over Covid vaccine patents with EU leaders slamming President Biden’s IP waiver plan and calling for production to be ramped up to aid poorer nations.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow hits an all-time high – jumping 300 points - as U.S. jobless claims beat expectations. Markets now turn to the Non-farm Payrolls due today. Central banks are in focus as the Federal Reserve believes that asset prices in stock markets are over-valued and pose a threat to the financial system. Meanwhile, the Bank of England hikes the UK GDP outlook for 2021 by 7.25 per cent. BoE Governor Andrew Bailey tells CNBC that inflation ahead could be ‘bumpy,’ but so far there was no cause for alarm in the medium term. Still in Britain, we are live in Edinburgh while awaiting crucial parliamentary, regional and local elections from across the country. China’s recovery continues with imports and exports seeing a strong rise in April. And pharmaceutical stocks are mixed after German Chancellor Angela Merkel denies waiving IP rights for Covid vaccines while U.S. President continues pushing in the opposite direction.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Strong U.S. earnings help push the Dow to a new record but tech stocks suffer as Federal Reserve Vice-chairman Richard Clarida says talk of tapering is still some time off. Pharma shares also tumble after the White House backs a patent waiver for Covid vaccines. Meanwhile, Sino-Australian relations deteriorate further after China suspends all activities associated with the Strategic Economic Dialogue between the countries. Beijing has accused Canberra of having a ‘Cold War mindset’. And in banking news, French lender Société Générale posts a first-quarter profit of €814m on the back of solid global bank performances.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. Treasury Secretary Janet Yellen sends jitters through the markets, saying interest rates may have to rise eventually, but later admits that any hikes are neither predicted nor recommended. Tech stocks plunge following Yellen’s comments. The Nasdaq reacts by posting its worst day since March while Apple shares fall 3 per cent. In corporate news, U.S. ride-hailing app Lyft beats Q1 expectations with revenues up 7 per cent on the quarter. Canadian business jet giant Bombardier moves its positions out of French rail company Alstom, selling its 3.1 per cent stake for $663m. We also have first-quarter earnings from several European firms including Deutsche Post DHL and Virgin Money.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Tri-State area moves to join Florida and Texas in reopening most businesses to full capacity following months of lockdown. The Dow and S&P surge on the news with retail stocks gaining strongly. President Biden aims to garner support for his recovery plan after GOP lawmakers call the plan an “economy and jobs killer”. Meanwhile, Biden’s Secretary of State Antony Blinken meets UK Foreign Minister Dominic Raab in London for the first in-person G7 summit in two years. The pair discussed how to counter geo-political threats posed by Russia and China. In media news, Vivendi is set to sell down its stake in Italian broadcaster Mediaset, in a bid to resolve a five-year legal wrangle. We also have a slew of earnings from around Europe, including Adecco, Infineon and S4 Capital.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. futures are up ahead of the first May trading day. Investors ready themselves for a new week of earnings and Treasury Secretary Janet Yellen says price pressures are not a concern following President Biden’s proposed $4.1tn stimulus package. Legendary investor Warren Buffett, however, warns that inflation is a risk as the ‘red hot’ U.S. economy recovery gathers pace. Meanwhile, the Covid pandemic rages on in India, which records more than 3,400 deaths - its highest daily death toll so far. And in M&A news, private equity titan Apollo is closing in on Verizon’s media assets in a deal believed to be worth up to $5bn.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Amazon sees another $100bn quarter as it continues to prosper from lockdowns around the world. Sales surged 44 per cent and the online retail giant expects strong revenue ahead even as virus restrictions ease. But it’s not all good news for the tech giants. Twitter misses Q1 expectations with falling growth in active users, despite revenues rising. Shares nosedive by double digits in extended trading. The U.S. economy posted 6.4 per cent growth in the first quarter with the vaccine rollout and federal spending helping the country back on track to pre-pandemic levels. Meanwhile, China’s manufacturing rebound is hindered by supply chain disruptions. The nation’s private sector, however, sees activity rise by its fast pace since the beginning of the year. Also in China, tech stocks tumble after Beijing regulators laser in on so-called ‘risky’ lending and payments in a bid to rein in its powerful domestic tech sector. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Biden touts progress on the U.S. vaccine rollout and a resurgent economy during his first joint address to Congress. He unveiled a new $1.8tn spending plan and urged lawmakers to raise corporate tax and levy the ultra-wealthy to foot the bill. Treasuries and stocks falter after Federal Reserve chairman Jerome Powell holds rates steady. Powell said the recovery remained uneven in places and ruled out tapering for the foreseeable future. In Big Tech earnings, Apple sales surge by more than 50 per cent after seeing double-digit growth in all its product categories. It also announced $90bn in share buybacks. Facebook also enjoys a 50 per cent revenue increase on higher priced advertising. In Europe, Airbus has warned that the aviation sector’s recovery is still incomplete. This, despite the French plane maker posting a 147 per cent hike in Q1 adjusted operating profit and maintaining 2021 guidance. And in banking news, Standard Chartered’s wealth management unit reports its best-ever quarter but the Asia-focused lender says the recovery ahead remains opaque.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It’s another busy day of earnings on both sides of the Atlantic. Google’s parent company Alphabet posts its biggest earnings beat since it went public. The media giant has launched a $50bn share buyback. Microsoft shares are down despite its strongest Q1 revenue for three years on the back of booming cloud services and PC sales during global lockdowns. In Europe, Santander records a net profit of €1.6bn and says it is on track to hit its goals for the year and aims to drive down costs further. Earnings are also coming in from Deutsche Bank, Covestro, Carlsberg and Electrolux.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

HSBC leads a slew of earnings on both sides of the pond with the UK lender posting its best quarter since the start of the pandemic as profits surge 79 per cent. CFO Ewen Stevenson tells CNBC shareholders can expect dividend payouts once again. UBS also has a strong Q1 but results were dented by a CHF434m hit from exposure to the collapse of Archegos. Stateside, Tesla posts a record first quarter. Betting on Bitcoin has helped to add $100m to the electric car maker’s bottom line but CEO Elon Musk admits to ‘insane’ manufacturing difficulties due to the global chip shortage. And in shipping news, Maersk lifts its full-year outlook on strong demand and rising freight rates.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian equities hit a six-week high to kick off a week when more than a third of companies listed on the S&P 500 are set to report Q1 earnings and markets await the Fed’s rate decision. Meanwhile, India continues to suffer from record Covid case and death levels over the weekend. Hospitals are overwhelmed and oxygen in short supply as the UK announces it is shipping urgent medical equipment to Delhi. In Italy, PM Mario Draghi eases lockdown restrictions while striking a recovery plan with Brussels reportedly worth €200bn. EU Commission President Ursula Von Der Leyen pledges to resume flights between the bloc and U.S. for fully vaccinated tourists this summer.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. equities tumble with the Dow leading losses on the news that President Biden is set to hike capital gains tax to more than 40 per cent. Biden also held a virtual world leaders’ climate summit where he pledged the U.S. would slash its carbon emissions in half within a decade, reasserting the nation’s commitment to tackling climate change. Meanwhile, the pandemic rages on in India, which saw a record 300,000 new Covid infections for a second straight day. The country’s second wave is reportedly pushing the healthcare system to the brink of collapse, as it is already suffering regional oxygen shortages. In Europe, CNBC learns the EU is eyeing imminent legal proceedings against AstraZeneca’s shortfalls in vaccine deliveries to the bloc. And in earnings news, LafargeHolcim reports a record Q1 on rising sales. The world’s largest cement maker says it expects to reach its 2022 targets a year in advance.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Credit Suisse slumps to a CHF252m Q1 loss with CEO Thomas Gottstein calling the Archegos and Greensill scandal-linked losses “unacceptable”. The Dow regains more than 300 points and the Nasdaq bounces back by 1 per cent on strong pandemic recovery stocks. Airbus reorganises aero-parts production lines in France and Germany in a bid to cut costs. President Biden’s environmental summit is set to begin on Earth Day with Treasury Secretary Janet Yellen pledging to tackle the “existential threat” of climate change. In Frankfurt, ECB President Christine Lagarde is expected to keep rates on hold with pressure growing for the central bank to taper bond-buying.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian markets mirror losses Stateside. The Dow posts Wall Street’s biggest declines as virus-related pessimism overshadows strong corporate earnings. Netflix, however, is not among the positive performers. Its shares plunge in after-hours trading following faltering subscription numbers as lockdowns ease. Kering, however, tops Q1 sales expectations, spearheading the luxury sector’s revival. The French giant’s Asian performance offsets continuing weakness in Europe. And the breakaway European Super League collapses dramatically after just two days. All six English Premier League clubs withdraw from the project following a massive backlash from fans, clubs and footballing governing bodies.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Armin Laschet wins the CDU’s nomination for German Chancellor, moving one step closer to succeeding Angela Merkel. U.S. equities are lower as tech stocks stumble following a deadly driverless Tesla car crash in Houston. Meanwhile, Chinese President Xi Jinping addresses the Boao Forum, calling for global cooperation and equitable governance to avoid a new ‘Cold War’. In autos news, BMW releases a surprise set of Q1 results that show profits soaring by 370 per cent on strong demand in China and increasing prices. And the UK government says it will take all possible measures to halt the establishment of the breakaway European Super League. European football’s governing body, Uefa, has called the move “a spit in the face” of fans of the game.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The S&P 500 and Dow close the past week at new record highs following a strong start to the U.S. corporate earnings season, ahead of another week of key numbers. Meanwhile, pandemic deaths have reached the grim milestone of 3 million deaths worldwide. India alone has recorded up to 250,000 new infections in a single day. Research is ongoing to assess future risks from the virus, with Oxford University undertaking human Covid re-infection trials to assess the efficacy and longevity of vaccines and immune responses to the virus. In China, Shanghai plays host to two days of high-level climate talks between Washington and Beijing where environmental envoy John Kerry and his Chinese counterpart, Xie Zhenhua pledged cooperation on climate change ahead of President Biden’s virtual leaders’ summit this week. And, the PBOC says it does not intend to replace the dollar as the world’s reserve currency with its digital yuan.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Chinese Q1 GDP growth soars by a record-breaking 18.3 per cent on the year but falls short of analysts’ expectations. Strong U.S. earnings have pushed the Dow over 34,000 for the first time. Retail sales are also up by almost 10 per cent and first-time jobless figures hit a one-year low. Daimler posts a surprise jump in Q1 earnings as it unveils its flagship electric car, the EQS. However, CEO Ola Källenius tells CNBC that the global chip shortage is weighing on sales. French cosmetics giant L'Oréal shrugs off lockdown effects through solid Chinese demand and strong online sales in Europe.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Cryptocurrency trading platform Coinbase closes a dramatic inaugural day on the Nasdaq below its debut price after rallying to more than $400 a share. U.S. earnings season kicks off with big beats for Wall Street banks. Goldman Sachs posts a record Q1 net profit and revenue number. Unicredit is set to formerly unveil Andrea Orcel as its new CEO today but his €7.5m pay packet remains controversial for some of the Italian lender’s investors. ABB raises its 2021 revenue outlook with sales rising in the first quarter.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Rare blood clot incidents force Johnson & Johnson to pause the use of their vaccine in the U.S. where health officials have scrambled to reassure the public. The safety concerns also have implications for the rollout of the dose throughout the EU where it has been temporarily stopped just 24 hours since deliveries began. U.S. equities mostly shrug off the news, with the S&P 500 hitting record highs, buoyed in part by tech stocks. As earnings season begins, German software giant SAP reports preliminary Q1 profit jumping by a third, prompting the firm to raise its revenue guidance. Credit Suisse is reportedly unwinding its Archegos-linked positions, putting large blocks of Discovery shares on the market. In luxury news, LVMH has beaten Q1 expectations on rebounding Chinese and U.S. demand.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China March exports rise by more than a third while imports come in at their fastest pace in four years. In Germany, the race to replace Angela Merkel as Chancellor heats up with the CDU’s Armin Laschet vying against CSU leader Markus Söder, who is pulling ahead in the polls. The U.S. is readying itself for key inflation data and first-quarter corporate earnings are also due, which weigh on Wall Street. President Biden holds a semi-conductor summit with CEOs and vows to provide federal support to companies hit by the global chip shortage. Intel boss Pat Gelsinger tells CNBC he is aiming to produce chips for the automotive industry in the U.S. by the end of the year.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The race for the German chancellery heats up after the CSU chairman and Bavarian minister-president Markus Söder throws his hat in the ring against the CDU’s Armin Laschet. Party leaders are set to decide on their preferred candidates today. Federal Reserve chairman Jerome Powell has said that the U.S. economy is at an ‘inflection point’ despite pockets of recovery risk remaining. The Dow and the S&P 500 both hit new record highs on Friday ahead of the start of earnings season this week. In China, Alibaba shares surge despite the online retail group being slapped with a $2.75bn fine by Beijing regulators for violating the country’s anti-monopoly laws. And in tech news, Microsoft is to snap up speech-recognition technology firm Nuance for $16bn.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Federal Reserve Chairman Jerome Powell warns a CNBC IMF Spring Meeting panel that the pandemic will leave permanent scarring on the global jobs market but that an inflation hike will only be temporary. Vaccine access and recovery trajectories are also dominating the discussion. IMF managing director Kristalina Georgieva says that poorer countries must not be left behind. Australia acknowledges the rare blood clot cases recently associated with the AstraZeneca dose but stops short of an outright ban while revising its rollout and procurement strategies. In China, factory gate prices see their highest jump in two years. In tech news, Tencent-backed fintech company Linklogis leaps on its Hong Kong market debut, promising international expansion.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The UK has changed its guidance for the AstraZeneca Covid vaccine following reported rare blood clots. Younger recipients will now be offered an alternative dose but the British medical authorities say the benefits still outweigh any risks. The European Medical Agency has acknowledged a possible link between the vaccine and the side effects but has not age-restricted the jab on the Continent. In the U.S., the S&P 500 hits another record close buoyed by the Federal Reserve’s March minutes optimism about the country’s outlook. President Biden has indicated that he is willing to debate and compromise over his corporate tax plan with some reports suggesting that 25 per cent could be the best middle-ground figure.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

CNBC launches Germany: Engine of Europe with the country’s finance minister Olaf Scholz telling the channel exclusively that Europe requires a streamlined and united front in tackling the COVID pandemic. The IMF raises its post-pandemic global guidance, saying that China’s response has driven growth but warns that asymmetrical vaccine rollouts will provide ‘daunting challenges’ ahead. According to CNBC sources, Morgan Stanley reportedly dumped $5bn in Archegos bets on the eve before the hedge fund’s fire sale. And in IPO news, a report suggests Goldman Sachs bought £74m of Deliveroo shares in an effort to support the stock price after its disappointing IPO.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Credit Suisse takes drastic action, axing 2 top executives, cutting its dividend, halting its share buy-back plan and slashing bonuses as the bank warns the Archegos fallout will cost $4.7bn. On Wall Street, a strong March jobs number and a service sector activity spike buoy the Dow and the S&P 500. U.S. Treasury Secretary Janet Yellen announces the Biden’s administration return to the world stage, calling for a minimum global corporate tax rate. In China the services sector continues to recover with the Caixin survey clocking activity at its highest level since December on increased hiring and consumer confidence.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. President Joe Biden unveils his massive $2tn infrastructure programme, which promises millions of jobs as part of a “once in a generation investment”. However, he’s immediately facing resistance over the tax hikes required to foot the bill. As March closes, U.S. equities have marked out their fourth consecutive positive quarter. Meanwhile, China’s post-virus recovery seems to stutter with the Caixin PMI index falling to its lowest level for almost a year. OPEC and its allies lower their demand forecast ahead of a key meeting today, while the CEO of Saudi Aramco tells CNBC he's confident of meeting dividend payout expectations. And in France, President Macron finally imposes a strict third national lockdown in a bid to halt spiraling Covid-19 cases and increasing hospitalisations.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Recovering global demand pushes Chinese factory activity to expand at its fastest rate in three months. On the other side of the Pacific, U.S. markets are jittery as the 10-year yield reaches a 14-month high and the fallout from the Archegos collapse continues. JPMorgan warns that the banking sector could be hit for up to $10bn as a result. President Biden is set to outline his multi-trillion-dollar infrastructure programme. The plan is already facing pushback over fears of a corporate tax raid to foot the bill. In vaccine news, there has been a fresh setback for Astrazeneca after Germany limited use of its vaccine to over 60-year-olds only over renewed safety fears. And Deliveroo begins conditional trading on the London Stock Exchange. Despite pricing at the lower end of its range, the food delivery titan’s listing is the LSE’s largest in a decade.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Billions of dollars of losses on Wall Street are exposed to the Archegos Capital fire sale fallout, with Nomura, Viacom and Discovery following Credit Suisse into the red. In Washington, President Biden aims to stave off CDC warnings of a late winter surge, saying 90 per cent of Americans will be eligible for Covid vaccines within the next month. Global sea trade resumes along the Suez Canal after the Ever Given super-container ship is finally refloated. Saudi Arabia calls for extended output cuts with markets turning their attention to upcoming OPEC+ talks. And in corporate news, Unicredit investors have been reportedly urged to protest against the €7.5m pay packet going to incoming chief executive Andrea Orcel.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Almost a week after running aground, the giant container ship the Ever Given is at least partially refloated, but the backlog of vessels in the Suez Canal remains. Oil prices fall as a result with traders pricing in the re-opening of supply routes. In the U.S., futures dip after seeing a record high during Friday’s session, which was dominated by a fire sale from Archegos Capital. Meanwhile, fears the U.S. could delist Chinese tech companies weigh on Bilibili shares after the Chinese video streaming company’s Hong Kong debut. And in Europe, French doctors warn that hospitals could be overwhelmed by the third Covid wave hitting the continent. German Chancellor Angela Merkel urges local states to tighten their lockdown restrictions.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Asian equities are in the green, mirroring Wall Street gains after President Biden says his rescue plan is working and the U.S. recovery is burgeoning. The European Union backs down from a vaccine export ban but Commission President Ursula Von Der Leyen repeats calls for AstraZeneca to honour its delivery commitments to the bloc. The Ever Given container ship continues to block the Suez Canal, with the standstill costing an estimated $400m an hour in delayed goods. And social media CEOs testify on Capitol Hill on their roles in spreading online misinformation.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

AstraZeneca has revised down vaccine efficacy data after doubts were raised over its U.S. trial results. The pharma giant is also at the centre of the ongoing vaccine export row between the UK and EU. But, London and Brussels are looking to ease tensions and ramp up supplies across the continent. In market news, U.S. equities fall with the Nasdaq leading declines, despite 10-year treasury yields also heading south in a sign that the recent trading trend could be slowing down. Chinese tech stocks fall as well after the U.S. Securities Exchange Commission rolls out a Trump-era law aimed at forcing de-listings over auditing irregularities. Beijing is also under pressure from U.S. Treasury Secretary Antony Blinken who urged NATO allies to collectively push China to uphold its trading commitments.   See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

CNBC speaks exclusively to BIS general manager Agustin Carstens who says that clarity will come with rate normalisation but that investors should heed calls for patience. U.S. Treasury Secretary Janet Yellen and Federal Reserve chairman Jerome Powell testify jointly in a bid to reassure Congress over asset valuations and recovery jitters. On the one-year anniversary of the bull market, U.S. stocks slide amid continued concern over the recovery and rising cases on both sides of the Atlantic. The EU announces it will tighten vaccine export rules on the back of the bloc’s spat with AstraZeneca. The pharma company says it will publish further U.S. vaccine trial data following questions over efficacy. And in tech news, Intel is gearing up to challenge Asia’s chip-manufacturing dominance as it unveils plans to spend billions on U.S.-based factories.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On the anniversary of the ECB’s emergency bond-buying programme, we hear exclusively from the central bank’s chief economist Philip Lane who says Treasury volatility will not necessarily spill over to Europe. U.S. Treasury Secretary Janet Yellen and Federal Reserve chair Jerome Powell are set to testify before Congress over the $1.9tn pandemic rescue bill. Meanwhile, President Biden is reportedly considering tabling a two-part infrastructure bill worth $3tn to boost the nation’s recovery. Tensions rise between Beijing, Brussels and Washington after the U.S., UK and the European Union slap sanctions on China over the treatment of Uighur Muslims in Xinjiang province, while China retaliates with its own set of broader sanctions against EU officials. And the U.S. NIAID says AstraZeneca may have potentially used outdated figures during its American vaccine trial.    See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

UK Prime Minister Boris Johnson is to confront EU leaders over threats to block AstraZeneca vaccine exports to Britain. Meanwhile the bloc’s two biggest economies face further Covid restrictions due to spiralling cases. Germany is set to extend the national lockdown for a fifth month and quarantine all arrivals into the country. The Turkish lira plunges to a record low against the greenback after President Erdogan fired the country’s central bank governor for raising interest rates. French lender Société Générale has withdrawn all long positions in the country as a result. In energy news, the world’s biggest oil exporter, Saudi Aramco, suffers a 44 per cent decline in earnings but maintains its dividend. And in a further blow to the struggling global semi-conductor industry, a major fire at Japan’s Renesas Group takes one its chip manufacturing facilities out of action.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Yields soar, hitting tech stocks. Both the S&P 500 and Nasdaq retreat in the face of the U.S. 10-year bill reaching a 14-year high. U.S.-China relations under the Biden administration are off to a rocky start as the superpowers’ top diplomats meet for the first time in Anchorage. The scheduled short opening session descended into an hour-long exchange of insults and acrimony over internal and foreign policy interference. Meanwhile, the European Medicines Agency has ruled that the Oxford-AstraZeneca Covid vaccine is safe following reports of blood clot-related illnesses and deaths. Several EU nations have now resumed their vaccination rollouts as a result. And in energy news, oil prices could be in for a tumultuous day and are lower this week overall after new lockdowns were announced across Europe, including France, stoking demand concerns.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Federal Reserve Chair Jerome Powell holds a dovish line. The central bank sees interest rates staying near zero until at least 2023, despite Fed members offering a more optimistic outlook for growth and inflation this year. Markets cheered Powell’s announcements with the Dow closing at over 33-thousand points for the first time while yields ease. However, U.S. futures point to a muted open on Wall Street today. In Europe, Dutch Prime Minister Mark Rutte is set to secure a fourth term in office, to become the country's longest serving leader. His VVD party are projected to win 35 of the 150 seats. Meanwhile the vaccine row on the continent heats up and the EU goes on the attack - warning it will hold back vaccine exports to nations it says are failing to deliver jabs to the bloc.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

U.S. markets are on tenterhooks with all eyes on the Federal Reserve, as investors wait to see whether Fed Chair Jerome Powell will react to rising bond yields and increasing inflation speculation at the close of the two day FOMC meetings today. Back on the continent, it's the third and final day of voting in an election that could see Prime Minister Mark Rutte win a fourth consecutive term - having resigned in January over a child benefits scandal. The country’s relationship with the EU has been among the central issues for voters. Meanwhile, the European Union's medicines agency attempts to reassure the public over the safety of the Oxford-AstraZeneca coronavirus vaccine, after some member states paused its rollout with concerns over possible side effects. And a landmark moment for the gig economy as Uber's more than 70-thousand U.K. drivers get workers' rights from today -- earning the national living wage, and benefits like holiday and sick pay, after a ruling by the Supreme Court last month.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow and S&P 500 hit new highs, as investors bank on the economy reopening. Investors will keep an eye out on the Fed which prepares to meet later today. In Europe, vaccine efforts could face delays after Germany, France, Italy and Spain all pause their Astrazeneca jab rollouts over blood clot fears. The European Medicines Agency's safety committee is due to meet today on the matter, as the WHO calls for calm. Meanwhile Down Under, Facebook strikes a deal with Rupert Murdoch's News Corp to pay for content in Australia, after the social media giant briefly cut off access to news in the country. And, Volkswagen announces six battery factories across Europe by 2030. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Biden signs the $1.9tn stimulus bill and in a prime time TV address he unveils the roadmap out of lockdown, urging eligible Americans to take the vaccine where possible. U.S. equities react positively with both the Dow and S&P 500 hitting new highs. Shares in South Korean web retail giant Coupang rally up to 40 per cent after the company lists on the NYSE - Wall Street’s largest listing so far this year. Coupang now has a market cap of $84bn. In further IPO news out of Asia, China’s Baidu is eyeing a secondary flotation in Hong Kong while Singaporean ride-hailing and delivery app Grab is set to go public through a SPAC. Meanwhile, there is renewed tension between Brussels and AstraZeneca as the company will reportedly miss already reduced delivery targets to the bloc.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The U.S. Congress passes the $1.9tn virus stimulus bill and sends it onto President Biden to sign into law. The Dow hits a record high, while U.S. Treasury yields pare down after moderate take-up in the latest 10-year auction. Across the Atlantic, ECB policy makers react with caution over rising sovereign bond yields ahead of today’s central bank meeting. GE is to sell its jet-leasing business to Ireland’s AerCap. The $30bn deal will create the sector’s largest lessor by market share. And South Korea’s answer to Amazon, Coupang, raises $4.2bn ahead of its NYSE listing – the biggest IPO in the U.S. this year so far.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Nasdaq marks its best session since November, just one day after slipping into correction territory, as bond yields ease. Latest data from China fuels inflation concerns, with factory prices rising at their fastest pace in two-and-a-half years. GFG Alliance holds last-ditch talks with Greensill Capital as the supply chain finance group files for insolvency, amid reports Softbank pumped $400m into the lender just months ahead of its collapse. And the EU and UK are once again at loggerheads over vaccine distribution, with Brussels accusing London of blocking exports, which Downing Street angrily denies.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Dow rallies to a record high but the U.S. tech rotation to cyclicals continues with the Nasdaq suffering a fall into correction territory. However, Ark Invest founder Cathie Wood tells CNBC she is optimistic the bull market is broadening and has space to run. Following the Senate’s approval of President Biden’s $1.9tn stimulus bill, so-called ‘meme stocks’ are rallying on expectations that some retail investors may pump their stimulus cheques to continue fuelling the market short squeeze. In Europe, troubled lender Greensill Capital has filed for bankruptcy, citing “severe financial distress”. The collapse of Greensill means that up to 5,000 steel jobs at Liberty UK could now be at risk.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

China says relations with the U.S. should move on from “zero-sum finger-pointing” as Beijing calls for the removal of “unreasonable curbs on co-operation”. Early U.S. futures are mixed despite President Biden’s $1.9tn stimulus plan passing the Senate before it heads back to the House. Brent crude tops $70 a barrel for the first time since the outbreak of the pandemic, while WTI hits a 2-year high after Saudi oil facilities suffer a drone attack claimed by Iranian-backed Houthi fighters in Yemen. And the U.S. and EU agree to a tariff truce over a 17 year subsidy wrangle between Boeing and Airbus.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Nasdaq turns negative for 2021 as tech stocks continue to weigh on the back of Federal Reserve Chairman Jerome Powell’s failure to address the recent surge in bond yields and investors’ inflation jitters. OPEC+ leaders have agreed to maintain supply cuts until April amid ongoing demand uncertainty, nudging prices upwards. China cools down recovery expectations, outlining a growth target of more than 6 per cent this year as the annual NPC convenes. And Italy blocks exports of AstraZeneca doses to Australia as the EU attempts to scale up its stuttering vaccine rollout.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tech stocks continue to weigh on Wall Street with sharp sell-offs in Asia mirroring the declines. Spikes in bond yields are once-again blamed. We speak with Bundesbank President Jens Weidmann who says he is ready to react to the moves. No big surprises in the UK Budget as Chancellor Rishi Sunak pledges billions of pounds to support workers and businesses post-pandemic. Plans to shore up the ballooning deficit include significant corporate tax hikes by 2023. In Germany, financial regulator Bafin has reportedly begun legal proceedings against Greensill Bank over alleged balance sheet manipulations. And oil prices rise ahead of tomorrow’s OPEC+ meeting where output cuts are likely to be maintained.  See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.