The S&P 500 Index sank into a bear market on Monday with investors fearing that the Federal Reserve will need to hike interest rates more aggressively to fight inflation, even at the risk of sending the US economy into recession. Our team on "Bloomberg Markets: The Close" reports.



Manhattan

Inflation across the developed world is surging, with the rising cost of living expenses at the highest level since the 1980s.

Global Inflation Concerns

S&P sinks into bear market in first since March 2020

The owner of a wellness retreat near Ballarat has shared her 'deep sorrow and shock' following the death of a 53-year-old woman. It's understood Rachael Dixon consumed a drink made with mushrooms before she died.

Clunes

Wellness retreat 'shock' at mushroom death

The dry desert countries of Oman and the U.A.E. are dealing with the aftermath of deadly flash floods caused by more than one year's worth of rain falling in just 24 hours, which some are attributing to climate change.

Dubai

Climate Crisis

Record rainfall causes deadly floods in U.A.E., Oman

Germany has urged the European Union and NATO member states to bolster Ukraine's air defenses as quickly as possible as Russian missiles pounded Ukrainian cities and its president repeated urgent calls for support. The Netherlands, Czechia and Denmark quickly rallied behind the proposal.

Brussels

Ukraine Invasion

NATO looks to bolster Ukraine air defenses

Bondi Junction shopping centre will reopen today for a community reflection day before resuming normal trading hours from Friday. Meanwhile, six victims from the stabbing attack remain in hospital, with two women in ICU.

Bondi

Shopping centre to reopen for community reflection

Israel will make its own decisions about how to defend itself, Prime Minister Benjamin Netanyahu said, as Western countries pleaded for restraint in responding to a volley of attacks from Iran.

Jerusalem

Israel-Gaza War

Netanyahu says Israel will do 'everything necessary' for defense

Three Russian missiles have crashed into Ukraine's historic city of Chernigiv, killing 17 people, as officials pleaded for more air defense systems from allies.

Chernihiv

More than a dozen killed in Russian missile strike in Ukraine

Iran's president says his country's forces are ready to face any threat. Ebrahim Raisi says any further move by Israel will be met with another attack by Iran. He made the comments during Iran's National Army Day.

Tehran

Iran’s Raisi reiterates warnings as Israel mulls response to attack

US Treasury Secretary Janet Yellen warned of further sanctions targeting Iran following its unprecedented weekend attack on Israel, saying she expects Washington will take added action "in the coming days." The EU is also weighing new sanctions against Iran according to foreign policy chief Josep Borrell.

U.S., E.U. weigh new sanctions targetting Iran

The first seven jurors for Donald Trump's hush money trial were seated after lawyers grilled the jury pool about their social media posts, political views and personal lives to decide who can sit in fair judgment of the former president. Eleven more people still must be sworn in before opening statements begin as early as next week in the first criminal trial of a former US president.

New York

First seven jurors chosen for Trump's hush money trial

The U.K. has cleared its first hurdle in passing strict new anti-smoking legislation that would make it illegal to sell cigarettes to those born after January 2009 for the rest of their lives.

London

U.K. votes in favour of smoking ban for those under 15

He quickly became known as ‘The Bollard Man’ after bravely taking-on the attacker during Saturdays deadly stabbing rampage at Bondi Junction. Now, the French national has been offered permanent residency after the Prime Minster declared he can stay in Australia for as long as he likes.

Bondi stabbing hero offered permanent residency

Fire has ripped through Copenhagen's Old Stock Exchange, one of the Danish capital's best-known buildings, engulfing its spire which collapsed in a scene reminiscent of the 2019 blaze at Paris' Notre-Dame.

Copenhagen

Historic Copenhagen stock exchange goes up in flames

Australia's domestic spy agency ASIO believes a man alleged to have stabbed a bishop at a Sydney church last night was acting alone.

Canberra

Australia's terror level unchanged after church attack

Efforts to end wars in the Middle East and Ukraine will dominate this week's meeting of Group of Seven foreign ministers, host Italy's top diplomat Antonio Tajani said, with the West struggling to get its voice heard.

Capri

Wars to dominate G7 talks in Italy

Israel's war cabinet was set to meet for the third time in three days, an official said, to decide on a response to Iran's first-ever direct attack, amid international pressure to avoid further escalating the conflicts in the Middle East.

Tel Aviv-Yafo

Israel war cabinet to meet again on response to Iran's attack

Authorities in Russia are warning people to evacuate affected areas as Russia’s Kurgan and Tyumen regions and swaths of northern Kazakhstan are flooded. Tens of thousands have already abandoned their homes. Kurgan Governor Vadim Shumkov said there was almost a “sea” of water approaching the area and fresh rainfall was making the situation worse.

Kurgan

Mass evacuations as floods in Russia’s Kurgan region set to peak

Australian police said a knife attack on an Assyrian church bishop and some followers in Sydney was a terrorist act motivated by suspected religious extremism, as the country reeled from a second stabbing incident in three days.

Council of the City of Sydney

Australia says church stabbing was terrorist act

Tributes are continuing to pour in for the victims of the stabbing attack by Joel Cauchi, at Westfield in Bondi, Sydney over the weekend. People have been visiting a makeshift shrine outside the shopping mall to pay their respects to the six victims.

Floral tributes grow outside Westfield Bondi Junction

Sydney is reeling this morning after an orthodox bishop was attacked with a knife during a church service last night in what police have declared, a terrorist act. A 16-year-old boy has been arrested and is in police custody.

Wakeley

Sydney church stabbing declared a terrorist act

Dozens of prospective jurors were dismissed promptly on the first day of Donald Trump's hush money trial. Lawyers have begun the difficult process of selecting 12 jurors and six alternates who can be fair and impartial in this historic case.

Trump hush money trial picks zero jurors on first day

A former volunteer firefighter who deliberately lit several bushfires in the Adelaide Hills has been sentenced to more than a decade in jail. 64-year-old Gregory John McGannon lit fires on a day of "extreme heat" three years ago destroying multiple homes.

Volunteer firefighter sentenced to prison for lighting fires

Israel faced pressure from allies on Monday to show restraint and avoid an escalation of conflict in the Middle East as it considered how to respond to Iran's weekend missile and drone attack.

Allies urge Israel to show restraint after Iranian attack

More than 2 million of the 8.6 million displaced people in Sudan have crossed to neighboring countries since fighting started a year ago. Following the influx of Sudanese, the U.N. Refugee Agency has sounded the alarm, calling for more humanitarian assistance to address the needs of people fleeing the war.

Khartoum

U.N. sounds alarm over exodus of Sudan refugees

Two of Tesla Inc.'s top executives have left the carmaker in the midst of its latest round of job cuts, according to people familiar with the matter. Tesla will cut over 10% of its workforce, translating to about 14,000 staff globally.

Austin

Musk's Tesla to cut workforce as two key executives leave

After multiple delays, former U.S. President Donald Trump's first criminal trial is underway with jury selection as he faces 34 felony counts in a New York court for falsifying business records. The hush money case will be the first of four potential criminal trials for Trump.

U.S. Presidential Election

Trump's N.Y. criminal trial begins in historic first for ex-president

The director of Beijing's Hong Kong and Macau Affairs Office, Xia Baolong, said Hong Kong should "tightly hold" onto the bottom line of national security to safeguard development, in a speech coming weeks after the enactment of sweeping new security laws.

Hong Kong Island

China says Hong Kong must hold national security line

The UN Security Council has held an emergency meeting following Iran’s retaliatory attack on Israel. Iran accuses Israel of violating international law by striking its diplomatic mission in Damascus two weeks ago. The UN Secretary-General has called for de-escalation ans said the World cannot afford another war in the Middle East.

U.N. chief urges restraint after Iran attacks Israel

Israel was quick to pledge retaliation against Iran’s unprecedented missile and drone attack over the weekend, but it didn’t say when or what the response would be. The threat had many Western nations saying it would not support Israel in a wider war.

Israel vows retaliation after Iran attack

Six people were killed and 12 others injured in a mass stabbing at a mall in Sydney, Australia, before a police officer fatally shot the attacker. The officer, a security guard and other shoppers are being hailed as heroes for stopping the rampage.

Police identify man who fatally stabbed six in Sydney mall

All six people who died in Saturday's attack in Bondi, NSW were much-loved members of the community. Among them were a young mother, a security guard working his first shift, and a local surf lifesaver.

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Global Inflation Concerns