From the Wall Street Journal’s "Stock Futures Gain After Selloff Sends Indexes to 2022 Lows" posted early Tuesday:
U.S. stock futures rebounded Tuesday, putting major indexes on course to halt three days of consecutive declines which have amounted to the S&P 500’s worst rout since the coronavirus first struck...
A cocktail of geopolitical risks and economic headwinds is posing the biggest threat to global growth in years and rattling markets. In the U.S., soaring inflation has prompted the Federal Reserve to begin raising interest rates and investors fear the move could tip the economy into recession.
Global markets are looking equally troubled. In China, resurgent Covid-19 outbreaks and Beijing’s strict approach to fighting them threaten to revive the supply chain bottlenecks which first drove inflation higher. In Europe, the war in Ukraine threatens to keep energy prices elevated and is weighing on the region’s growth.
“By 2023 you are very likely to see growth slowing very significantly, and the specter of recessions is really starting to loom,” said Seema Shah, chief strategist at Principal Global Investors. “What we are seeing is the realization that it is going to be very tough for the Fed to get that soft landing just right. It is not impossible but it will be a very difficult balancing act.”
Charts: Yahoo!Finance sees a bearish commodity-chanel-index pattern. Max pain stays at $162.50 with the same call mountain at $170 and that bizarre put peak at $185.