Good evening.
Markets slide, Fed prepares to shrink its $9T portfolio, and Elon Musk joins Twitter's board of directors.
Let's dive in.
Markets
Here are today's market moves:
What Happened?
U.S. stocks fell on Tuesday after hawkish comments by Federal Reserve policy makers.
A top official said the central bank may start to reduce its balance sheet at a 'rapid pace' as soon as May.
Tech stocks got hit the hardest, with the Nasdaq down 2.26% today.
The Fed on Wednesday will release minutes of its March meeting. Investors are looking for hints about the central bank's future policy plans.
The crypto market fell on Tuesday, with Bitcoin trading near $46k, moving lower after the Fed's comments.
Catch Up
Elon Musk is joining the Twitter board of directors after taking a 9.2% stake in the company.
U.S. President Biden calls for Putin to face war crimes trial over civilian killings in Ukraine.
Deutsche Bank became the first major Wall Street bank to forecast a U.S. recession is ahead.