| Stocks tumble, inflation fears rise, and fuel shortage warnings. Tech slammed The global tech rout that began yesterday in the U.S. has gone global. The Hang Seng Tech Index sank as much as 4.5%, extending its tumble from a February high to about 30%. In Europe, the Stoxx 600 Index fell the most since January as tech sector losses drove the gauge lower. One of the biggest winners over the past year, Cathie Wood's Ark Innovation ETF, was down more than 3% in pre-market trading after plunging 5.2% yesterday. Inflation Of the range of things being blamed for the selloff, rising inflation fears seem to be the one that correlates best. The bond market has lifted the five-year inflation outlook to the highest since 2006, while one of the oldest hedges, gold, is holding near three-month highs. Oil is also dropping. All of which means tomorrow's U.S. CPI number has gained even more significance for investors. Still mostly shutColonial Pipeline reopened a section of its pipeline system "for a limited time" as the company struggles to resume operations after last week's cyber attack. The aim is to have services "substantially" restored by the weekend. Gas stations along the east coast are starting to run out of fuel as the shutdown drags on. President Joe Biden said Russia has "some responsibility" to deal with the attack. Disparity The difference vaccines make in fighting the virus was again highlighted yesterday when England reported no deaths from Coivd-19 for the first time in 14 months. The news comes ahead of a further easing of lockdown measures next week. Meanwhile in India the pandemic continues to rage throughout the country as a variant of the disease first identified there is set to be classified as one of concern by the World Health Organization today. In the U.S., the push for people to take vaccine shots continues, with Pfizer Inc. and BioNTech SE's Covid-19 vaccine was cleared for use in younger teens. Coming up... U.S. March JOLTS job openings data is at 10:00 a.m. The Treasury will test the market by selling $58 billion of three-year notes at 1:00 p.m., ahead of sales of 10- and 30-year bonds tomorrow and Thursday. It's a busy day for monetary policy speakers with no fewer than five regional Fed presidents scheduled. OPEC will issue its latest monthly report. Electronic Arts Inc., Palantir Technologies Inc. and Unity Software Inc. are among the companies reporting. What we've been readingHere's what caught our eye over the last 24 hours. And finally, here's what Joe's interested in this morningHello folks. It's time for a special announcement in lieu of my normal note here. I'm going to start writing more.
My Odd Lots podcast co-host Tracy Alloway and I are starting a blog. Over at Bloomberg.com/OddLots, the two of us are going to be writing more daily on all the things we love to write about and talk about all the time. Lumber, MMT, semiconductors, the repo market, the labor market, cryptocurrencies, shipping, tech stocks, corn, monetary policy, all of it. We're also going to be doing other Q&As that don't go on the podcast itself, such as this one, with Eric Balchunas of Bloomberg Intelligence about why he's more optimistic than ever about the creation of a Bitcoin ETF. There are also going to be transcripts and plenty more. Here's something, for example, that I wrote about Keynes. Later today I'm going to write about the fundamental difference between a Memecoin and a Memestock.
The blog will only be available to subscribers. But right now, you can go here, and get 50% off to access all of Bloomberg.com. So if you just get this newsletter, and want to read more, including our stuff, but also everything else that we offer, this is your chance. We hope you check it out! And of course, this newsletter and the podcast itself will remain free and available to everyone.
Joe Weisenthal is an editor at Bloomberg Like Bloomberg's Five Things? Subscribe for unlimited access to trusted, data-based journalism in 120 countries around the world and gain expert analysis from exclusive daily newsletters, The Bloomberg Open and The Bloomberg Close. | 
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