Europe

Yesterday's 'dead cat bounce' in FANG stocks has been erased as broad-based weakness stemming from increasing recognition of hawkish central bank chatter is hitting stocks and bonds. Bank stocks bounce after stress test 'success' are saving some indices from bigger losses.

FANG stock erased yesterday's gains...

Bank stocks bounced overnight and remain green but are fading as the day progresses...

All major indices are in the red with The Dow holding up better as Nasdaq is hit hard...

• Global Bonds Gyrate as Investors Try to Parse Central Banks’ Next Stimulus Moves (WSJ)
• Republicans struggle to salvage healthcare effort (Reuters)
• States' Medicaid spending to increase (Reuters)
• Apple's iPhone turns 10, bumpy start forgotten (Reuters)
• Fed’s Stress Tests: All Banks Cleared on Payouts to Shareholders (WSJ)
• Bitcoin's Become So Volatile That It Looks Like a Steroidal ETF (BBG)
• They Built the First Phone You Loved. Where in the World Is Nokia Now?  (BBG)

The euro soared to the highest level in over a year while bond yields and global shares also climbed, as an ongoing barrage of coordinated hawkish comments from central banks signaled the era of easy money might be coming to an end for more than just the United States. S&P futures were fractionally in the green following the best day for US equities in two months, as banks climbed after passing the Fed's stress tests and announcing bigger than expected shareholder payouts.

Authored by Joseph Jankowski via PlanetFreeWill.com,

A major global cyber attack which struck particularly hard in Ukraine on Tuesday could potentially trigger NATO’s Article 5 mutual defense commitment, according to NATO chief Jens Stoltenberg.

On Tuesday, computer systems around the world were subjected to ransomware cyber attacks that spread from Ukraine and Russia, across Europe to the United States and then on to Asia.

Authored by Jeff Deist via The Mises Institute,