US markets finished a volatile week lower overnight as the Fed’s hawkish tone weighed on sentiment. The Dow Jones fell 282 points (-0.85%). At best it was down just 36 points, and at worst it was down 548 points. The NASDAQ lost 0.97% and the S&P 500 finished down 1.12%. In Europe, STOXX 600 was down 1.20%, FTSE was down 1.27%, DAX was down 0.67%, and France was down 1.08%. SPI Futures are down 27 points (-0.38%) this morning, following a 54-point loss yesterday.

In commodities, base metals were mostly lower with zinc falling 4.0%. Nickel and tin both finished higher. Oil prices fell overnight, Brent crude was down 2.77% and WTI was down 2.24%, but finished the week 4.60% higher. Gold rose overnight despite a stronger USD. Iron ore fell in China, down 3.66%, with the COVID saga continuing.

• Fed could push rates higher, keep them there longer, policymakers say
• Wall Street ends lower for third straight day as recession worries rise
• Goldman to cut thousands of staff as Wall Street layoffs intensify
• Elon Musk's Twitter suspension of journalists draws global backlash
• Russia fires scores of missiles in one of its biggest attacks on Ukraine
• FTX’s Bankman-Fried could face long road to fraud trial
• U.S. defense policy bill could make it harder to ship fuel in crises
• PepsiCo to roll out 100 Tesla Semis in 2023
• Opposition to U.S. school vaccine mandates rose during pandemic
• Oil drops by over $2/bbl, dogged by recession fears
• Speculators raise U.S. crude oil net longs-CFTC
• No evidence of space aliens so far in the Pentagon's UFO deep-dive

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