Newsletter Mar 15, 2022

3 things you must know

US cautions China against helping Russia avoid sanctions
The U.S. expressed concern Monday about "alignment" between Russia and China, after U.S. and Chinese officials met in Rome to discuss the Ukraine war and other security issues. The U.S. warned China against helping Russia avoid sanctions imposed by NATO for in its invasion of Ukraine. Moscow and Beijing have drawn closer in what Washington sees as an increasingly hostile alliance of the authoritarian nuclear powers. In other diplomatic efforts, Russia and Ukraine are expected continue talks today as both sides report signs of optimism despite the war raging on.
WHY THE US IS WORRIED ABOUT A CHINA-RUSSIA PACT

Rising inflation, raging war have Fed rethinking rate hike
Wall Streetâ€™s attention will be on the Federal Reserve this week, with the Federal Open Market Operations Committee issuing its monetary policy statement on Wednesday. FOMC statements are always market-moving events, but more so this time around due to a major monetary policy shift and the Russia-Ukraine conflict.
WILL THE FED MAKE A 25- OR 50-BASIS POINT RATE HIKE?

Number of homes worth over $1M doubles during pandemic
The pandemic has priced would-be homeowners and renters out of the housing market. But with COVID-19 seemingly in retreat, the situation has not markedly improved as home prices are now higher than they were even before the pandemic. A new study shows that the number of homes valued at $1 million or more has effectively doubled since the pandemic began two years ago.
WHY THE HOUSING MARKET IS BRACING FOR CHANGES

Markets

DJIA	32,945.24	0.00%
S&P 500	4,173.11	-0.74%
Nasdaq Composite	12,581.22	-2.04%
Japan: Nikkei 225	25,343.86	0.14%
UK: FTSE 100	7,193.47	0.53%
Crude Oil Futures	101.36	-1.60%
Gold Futures	1,953.00	-0.40%
Yen	118.19	-0.01%
Euro	1.10	0.10%
* As of market close

UN chief warns about risks of nuclear war

A nuclear conflict over Ukraine is a real and dire possibility if the war escalates between Russia and the West, U.N. Secretary General Antonio Guterres said Monday. â€œThe prospect of nuclear conflict, once unthinkable, is now back within the realm of possibility,â€ Guterres said. His comments come after a series of incidents raised the possibility of a nuclear incident since Russia launched its invasion of Ukraine.

SEE WHY FEARS EXTEND TO ACCIDENTS, NOT JUST WAR

Lyft joins Uber in imposing gas surcharges

The cost of calling a ride-sharing service just went up. Due to rising gas prices, Lyft announced Monday that it is joining rival Uber in adding a fuel surcharge to rides as compensation to drivers -- contract workers who are responsible for filling up their own tanks. Gas prices directly affect their earnings as the national average price for gas is $4.325.

SEE HOW LYFT AND UBER ARE IMPOSING THEIR ADDED FEES

Black market fast food going for big rubles

Russians are cashing in on the closure of all McDonaldâ€™s restaurants in the country due to the Ukraine conflict by selling menu items bought from the chain for big bucks online. Fast-food profiteers are posting menu items that range from Big Macs to McMuffins on a classified ad site that has food items from McDonaldâ€™s listed at high dollar amounts. A Big Mac sold for about 135 rubles, or about $1 USD, before the ban.

SEE HOW MUCH MONEY BLACK MARKET ITEMS ARE FETCHING

Big Mac attack

Who holds the world record for eating the most Big Mac hamburgers in a lifetime, and how many had he consumed through the end of 2021?

Monday's answer: In 2015, Suresh Kumar Sharma, a former vegetable vendor from India, set a world record by successfully reciting 17,000 digits of Pi from memory. The feat took 17 hours to complete.

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