US equity markets retreated and bond markets saw aggressive selling after Federal Reserve Chair Jerome Powell underlined the need to quicken the pace of monetary policy tightening, adding that upward pressure on prices from the invasion of Ukraine comes at a time of “already too high inflation” - Dow lost -202-points or -0.58%, paring an earlier decline of as much as -413-points but snapping a five session winning streak. Boeing Co fell -3.59% after a China Eastern Airlines passenger jet, with 132 people on board crashed in the mountains of southern China. The plane was a 737-800, not the 737 Max, which has yet to resume commercial flying in China, according to The Wall Street Journal. The broader S&P500 dipped -0.04%, unwinding an earlier advance of as much as +0.4% despite a +3.79% gain for the Energy sector. The Nasdaq eased -0.40%. Facebook parent Meta Platforms Inc lost -2.31%. Apple Inc rose +0.85% despite several of its properties, including the App Store, Apple Music, Apple TV+, the iTunes store and Podcasts, suffering from an outage, disrupting access for users and businesses. Apple said the problems ranged from slow or unavailable service to intermittent issues with various services, its system status page showed. The small capitalisation Russell 2000 fell -0.97%.
