Asian markets slide on geo-political and recession concerns. WTI falls to below $93. The RBA hikes interest rates by 50bps but the Australian dollar falls on the news. The central bank says that inflation Down Under is yet to peak. Beijing warns that it will react if it believes its sovereignty is threatened ahead of U.S. House Speaker Nancy Pelosi’s proposed visit to Taiwan. Social media company Pinterest sees shares surge in extended trade after activist investor Elliot Management confirms a large stake in the company.

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