Reuters has revealed that Tesla would pause its plans to enter the Indian markets due to a deadlock in tariff negotiations.
Policymaker of the European Central Bank Mario Centeno stated on Friday that the central bank would start hiking interest rates in July.
Bitcoin and other cryptocurrencies have experienced a record week of losses due to the collapse of stablecoins.
Despite a recovery experienced on Friday, major Wall Street indices ended the week with losses from 0.5% up to 2.70%.
Apple supplier Foxconn has announced that the company expects future challenges in China due to inflation and Covid lockdowns.
On Friday, Elon Musk revealed that the Twitter acquisition deal had been put on hold. At the start of the day's trading, the stock price plummeted by more than 10.00%, as it declined from 45.08 to 40.40.
The International Energy Administration stated this week that the world demand of oil is being met despite the loss of Russian oil supplies.
On Friday, Elon Musk revealed that the Twitter acquisition deal had been put on hold. The news caused a 20.00% drop of Twitter stock during the pre-market hours.
This week, the SoftBank Vision Fund posted a loss of $26 billion, which were attributed to the decline in tech stocks.
During Thursday's trading hours, the price for Bitcoin extended a sell off, as it wiped out all 2021 gains.
Data published on Thursday revealed that the UK economy was flat in February and actually decreased in size in March by 0.10%.
This week, US mortgage interest rates increased above the 5.50% level, which marked a 2.42% increase during the previous 12 months.
Panasonic announced this week that due to rising material and component costs the company expects its operating profit to remain flat.
On Wednesday, the ECB Policymaker Madis Muller stated that the European Central Bank could reveal its rate hike plan in June.
This week, Reuters published poll results, which revealed that surveyed economists expect the Japanese economy to have contracted in the first quarter of 2022.
During Thursday's trading hours, the prices for BTC and ETH continued to drop. BTC lost more than 10.00% and ETH declined by more than 16.00% during early European trading.
At mid-day on Tuesday, the price for natural gas started a recovery, as news came in that gas flows to Europe from Russia had been decreased by a fourth. The gas route was reported to be shut due to occupying Russian forces.
In April, inflation in Greece reached a 28-year high level, as month-on-month inflation had reached 10.2%.
At 12:30 GMT, the United States Labour Statistics Bureau released the monthly US Consumer Price Index and Core Consumer Price Index data for April. The event caused a surge of the US Dollar and drop of all assets traded against it, as it revealed the current Fed policy had failed to decrease inflation.
The President of the New York Federal Reserve John Williams stated this week that a decrease of inflation would not stop an economic decline and rising unemployment.
Reuters revealed on Tuesday that Tesla had stopped most of its output in Shanghai, which caused the drop in April sales.
This week, the Bank of Japan announced that it has no plan to widen the central bank's yield band to stop the decline of the Japanese Yen.
This week, Michael Saunders from the Bank of England Monetary Policy Committee stated that in his opinion inflation could exceed the central bank's forecasts.
The Bank of Canada revealed this week that it would provide guidance on its interest rate plans in an effort to decrease inflation.