Federal Reserve Chairman Jerome Powell seeks to terminate market speculation of a pivot away from raising rate hikes. Powell said it was ‘premature’ to end the hiking cycle. Wall Street reacts by dipping into the red following earlier gains while Treasury yields edge higher. Service activity in China falls to its lowest level since May as Beijing’s strict zero-Covid policies continue to strangle the economy. We are live at Web Summit in Lisbon where Ukrainian First Lady Olena Zelenska tells CNBC countries must put aside national self-interest and continue assisting her country in its war against Russia.  

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