SQUAWK BOX, WEDNESDAY 24TH AUGUST, 2022

U.S. indices are down for their third straight session following further hawkish comments from the Federal Reserve. Investors’ expectations that Chairman Jerome Powell would move away from the central bank’s tightening progamme have been dampened. In energy news, crude is also down on anticipation that any Opec+ output cuts could coincide with the return of Iranian oil to markets as part of a renewed nuclear deal. Chinese e-commerce giant feels the strain of continuing Covid restrictions in the country, posting a record-breaking slow quarter. And the U.S. is set to unveil a $3bn security package for Ukraine which is today marking six months since Moscow’s invasion of its territory.