SQUAWK BOX, FRIDAY 6TH MAY, 2022

U.S. markets see enormous and abrupt moves following post-Fed gains with the Dow losing more than 1,000 points in its worst session since 2020. The 10-year Treasury bill surges to more than 3 per cent. The dollar strengthens to two-decade highs against various currencies ahead of an expected solid April jobs report. In Asia, tech stocks sell off sharply following last night’s Nasdaq slump – its worst session in 2 years. The BoE gives a pessimistic outlook for the UK economy, saying that price inflation may reach up to 10 per cent this year while interest rates could hit levels not seen since 2009.