In Europe, new-vehicle sales shrank for a 10th month in a row as the industry remains mired in supply-chain crises, while euro-area inflation plateaued at a record high. Meanwhile, U.K. inflation rose to its highest level since Margaret Thatcher was prime minister 40 years ago, adding to pressure for action from the government and central bank.
Elsewhere, the Biden administration is poised to fully block Russia’s ability to pay U.S. bondholders after a deadline expires next week, a move that could bring Moscow closer to a default. Sri Lanka, meantime, is on the brink of reneging on US$12.6 billion of overseas bonds, a warning sign to investors in other developing nations that surging inflation is set to take a painful tollArticle contentThe S&P 500 fell 2.6 per cent as of 11:24 a.m. New York timeThe Stoxx Europe 600 fell 1.
Trying to find a bottom. Sounds like Trudeau in a darkened hallway.
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