Manage episode 286516521 series 2874547
Tech stocks continue to weigh on Wall Street with sharp sell-offs in Asia mirroring the declines. Spikes in bond yields are once-again blamed. We speak with Bundesbank President Jens Weidmann who says he is ready to react to the moves. No big surprises in the UK Budget as Chancellor Rishi Sunak pledges billions of pounds to support workers and businesses post-pandemic. Plans to shore up the ballooning deficit include significant corporate tax hikes by 2023. In Germany, financial regulator Bafin has reportedly begun legal proceedings against Greensill Bank over alleged balance sheet manipulations. And oil prices rise ahead of tomorrow’s OPEC+ meeting where output cuts are likely to be maintained.