SQUAWK BOX, WEDNESDAY 22ND JUNE, 2022

The S&P 500 hits back with its best day in June so far as Wall Street recovers from its worst weekly loss in 2 years. However, Asian markets don’t follow suit. South Korean stocks lead declines while the yen hits its lowest level in almost 24 years. Germany’s industry association, the BDI, has slashed its 2022 outlook and says a European recession is certain should Russia cut gas supplies completely. Meanwhile in the U.S., President Biden and Chevron CEO Michael Wirth spar over energy policy criticism. And in France, President Emmanuel Macron holds talks with rival parliamentary parties as National Rally leader Marine Le Pen says she was now entitled to key cabinet positions.