Good evening.
Markets slide, U.S. inflation hits a 40-year high, and earnings season begins tomorrow.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks fell for a third day on Tuesday as investors digested the March inflation report.
U.S. inflation surged to 8.5% in March, the highest in over 40 years.
High inflation readings have put pressure on the Fed to raise interest rates this year, weighing heaviest on tech stocks.
Earnings season is set to kick off tomorrow with JPMorgan posting its Q1 results.
Cryptocurrencies rebounded slightly on Tuesday, with Bitcoin trading above $40k, after a sharp sell-off yesterday.
Catch Up
The tech-heavy Nasdaq has lost more than $1 trillion in market value in the last five days.
Global venture funding dropped 19% from Q4 2021 to the first quarter of this year.
There are currently 2668 billionaires in the world, which is 87 fewer than last year.