Main Events:
Elon Musk: If the Fed raises rates next week, the recession will get much worse. And they will definitely raise it, and Elon risks losing the status of the top 1 richest man in the world now for a long time.
China has begun phasing out the Zero Covid-19 policy. Mr. Xi can afford to slack off in politics after being re-elected for another 5 years. About Taiwan, by the way, there has also been no disturbing news for a long time.
Brent oil fell to $73 because the Russian Federation did not agree to refuse supplies after the introduction of the price ceiling, and OPEC + did not support the idea to cut production even further. With a ceiling of $60 for Russian Urals, its current exchange rate is $52, and this is without a special discount for India and China.
Summary:
The S&P 500 has corrected after the previous week of growth. The market is again anxious ahead of the Fed's decision on Wednesday. Everything good is already in the price, but bad things can happen too.
Quotes:
S&P 500 - 3,934 (↓2.48%)
Gold - $1,796 (↓0.02%)
Oil Brent - $76.61 (↓10.85%)
USD INDEX - $104.93 (↑0.41%)
