In Asian Equity Markets Chinese stocks fell on Tuesday ahead of earnings reports from some of the biggest banks in the country, while most other Asian markets were mixed as concerns over a hawkish U.S. Fed persisted. China’s bluechip Shanghai Shenzhen CSI 300 index fell 0.6 percent, while the Shanghai Composite index lost a similar amount. Hong Kong’s tech-heavy Hang Seng index fell 1.2 percent and was the worst performer in Asia on Tuesday. Japanese stocks rose 1 percent, recovering sharply from Monday’s losses. Data showed the country’s unemployment rate was steady at 2.6 percent in July.

In Currency Markets the dollar struggled to regain momentum on Tuesday after being beaten back from a two-decade high versus major peers by a reinvigorated euro. The euro edged 0.06 percent higher to $1.0003, adding to Monday’s 0.32 percent rally, its biggest in almost three weeks. The dollar slid 0.21 percent to 138.44 yen, after rising to 139 overnight for the first time since mid-July. Sterling rose 0.08 percent to $1.17145, continuing its recovery from an almost 2-1/2-year low of $1.16495 reached on Monday. The Aussie slid 0.22 percent to $0.6887, while New Zealand’s kiwi retreated 0.18 percent to $0.6144.

In US Equity Markets stocks closed lower on Monday, adding to last week’s sharp losses on nagging concerns about the Federal Reserve’s determination to aggressively hike interest rates to fight inflation even as the economy slows. The Dow fell 0.57 percent, to 32,098.99, the S&P 500 lost 0.67 percent, to 4,030.61 and the Nasdaq Composite fell 1.02 percent, to 12,017.67. Energy stocks, up 1.54 percent were a bright spot as crude prices jumped about 4 percent. Bristol Myers Squibb slid 6.24 percent after its drug candidate for preventing ischemia strokes missed the main goal in a mid-stage trial.

In Commodities Markets oil prices settled up more than 4 percent on Monday, extending last week’s gain, as potential OPEC+ output cuts and conflict in Libya helped to offset a strong U.S. dollar and a dire outlook for U.S. growth. Brent crude settled up 4.1 percent, at $105.09 a barrel, having risen by 4.4 percent last week. U.S. WTI crude gained 4.2 percent, to$ 97.01, after rallying 2.5 percent last week. Spot gold was steady at $1,737.57 per ounce. Spot silver fell 0.5 percent to $18.79 per ounce, platinum rose 0.2 percent to $865.04 and palladium rose 1.5 percent to $2,141.91.

In European Equity Markets stocks fell on Monday, while bond yields rose as comments from central bank policymakers heightened fears of aggressive measures to stamp out inflation amid rising risks of a recession. The STOXX 600 index fell 0.9 percent to a more than one-month low, with interest rate-sensitive tech stocks falling 1.8 percent. Among stocks, one of the few gainers was French drugmaker Valneva, rising 0.9 percent on positive late-stage trial results for its COVID-19 shot. Markets in the United Kingdom were closed on Monday for a holiday.

In Bond Markets the U.S. two-year treasury yield hit its highest in 15 years on Monday as investors repositioned for an extended period of aggressive interest rate hikes by the Federal Reserve following chair Jerome Powell’s hawkish speech on Friday. The two year yield, which is particularly sensitive to interest rate expectations, rose to as high as 3.489 percent, its highest since late 2007, up 8 basis points from its Friday close. Benchmark 10-year yields also rose 8 basis points to as high as 3.13 percent but remain well shy of their mid-June top of 3.49 percent.