MARKET RECAP

• US markets were down by 1.38%, international 0.18%, and bonds by 0.43%. Aside from the inflation news, stocks were hurt by the chance of a war between Russia and Ukraine.
• Inflation hit a 40-year high of 7.5%, up from 7.0% last month.
• St. Louis Fed President James Bullard said “I’d like to see 100 basis points in the bag by July 1.” That was enough for traders to price in a 96% chance of a 50 basis point hike in March.

SCOREBOARD