U.S. stocks plunge on fears that rising inflationary pressures will begin to eat into companies’ profit margins more aggressively in the coming quarters, clouding the outlook for future earnings.

Chris, Victor and Dan Ives explore experiences in past downturns, fears regarding China’s lockdowns and the global supply chain, and the future of tech stocks.

After Tuesday’s strong rally, GBP/USD tanks, but the move could be temporary as the UK’s four-decade high inflation could end up producing a more aggressive tightening response from the BoE.

The SARB’s monetary committee attempts to strike the perfect balance between calming inflation while supporting the weakened local economy in tomorrow’s rate decision

Canadian inflation data came in hotter than expected for April, which could force the BoC to become even more hawkish in the months ahead.

The Euro continues to probe the important 1.05 level against the US dollar despite recent talk from one ECB hawk that an out-sized 50 basis point rate hike is possible in the coming months.

The Japanese Yen appears to have settled into consolidation mode, hovering below the crucial 130 level. Upside risks of growth and rates differentials against the US remain

UK headline inflation hit 9% in April, according to the latest ONS release, the highest level in four decades as energy bills continue to jump.

AUD/USD volatility may surge ahead of the Australian election and local jobs data, while spillovers from the Ukraine war could push investors into the arms of the haven-linked US Dollar.