CNBC speaks exclusively to BIS general manager Agustin Carstens who says that clarity will come with rate normalisation but that investors should heed calls for patience. U.S. Treasury Secretary Janet Yellen and Federal Reserve chairman Jerome Powell testify jointly in a bid to reassure Congress over asset valuations and recovery jitters. On the one-year anniversary of the bull market, U.S. stocks slide amid continued concern over the recovery and rising cases on both sides of the Atlantic. The EU announces it will tighten vaccine export rules on the back of the bloc’s spat with AstraZeneca. The pharma company says it will publish further U.S. vaccine trial data following questions over efficacy. And in tech news, Intel is gearing up to challenge Asia’s chip-manufacturing dominance as it unveils plans to spend billions on U.S.-based factories.  

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