Ex-Fed insider: A full-blown recession is 'almost certainly' coming

The Federal Reserve's war on inflation will eventually kill the economic recovery from Covid-19, former Fed official Bill Dudley warns.

News: What you need to know about the markets     Ex-Fed insider: A full-blown recession is 'almost certainly' coming The Federal Reserve's war on inflation will eventually kill the economic recovery from Covid-19, former Fed official Bill Dudley warns. Read more »   Oil slides under $90 to fresh six-month lows on demand worries The selloff in the oil market gathered momentum Thursday on growing concerns about weakening demand for gasoline. Read more »   Is anyone buying couches and beds from Wayfair anymore? Early in the pandemic, people realized they were going to be spending a lot more time at home. So they decided to upgrade. Read more »   Lucid shares plunge as it cuts production target in half Shares of luxury electric car maker Lucid plunged more than 10% Thursday after the company disclosed it will make roughly half the cars this year it had planned to build. Read more »   China's military drills around Taiwan threaten to upend global trade China's live-fire military drills around Taiwan are threatening to disrupt trade and commercial travel in East Asia, forcing vessels to reroute away from one of the world's busiest waterways and putting further pressure on strained global supply chains. Read more »   Alibaba shares pop as revenue beats expectations Alibaba just posted flat revenue growth for the first time since becoming a public company, but investors don't seem to mind. Read more »

Dow Nasdaq S&P -85.68   +52.42   -3.23 32,726.82   12,720.58   4,151.94 -0.26%   +0.41%   -0.08% YTD -9.94%   YTD -18.69%   YTD -12.89%

Biggest Winners Epam Systems Inc +12.26%   Ceridian HCM Holding Inc +10.38%   Air Products and Chemicals Inc +4.89%   NRG Energy Inc +4.74% Biggest Losers Ball Corp -18.58%   DXC Technology Co -17.04%   Aptiv PLC -9.72%   Lincoln National Corp -9.17%

Hottest ETF NYSE Market Volume

Key Market Stats Latest Today's Change Oil $87.79 -2.87 / -3.17% Gold $1,807.70 +31.30 / +1.76% 10-yr 2.68% -0.07 Euro $1.02 +0.01 / +0.90%

More Markets Now   Watch the live digital show, now every Wednesday 12 p.m. to 12:15 p.m. ET.

Hi, let us know what you think of this newsletter!   Tell us what you want to read more of... and less of. Email your tips and feedback to MarketsNow@cnn.com

Sign up for Reliable Sources newsletter   Sign up for Before the Bell newsletter

Tips, thoughts or questions are always welcome at MarketsNow@cnn.com   Want to change how you receive these emails? You can unsubscribe from this list   ® © 2022 Cable News Network Inc. A WarnerMedia Company. All Rights Reserved. You are receiving this message because you subscribed to CNN Business's "Markets Now" newsletter. Our Mailing address is: Cable News Network, Inc. 1 CNN Center Atlanta, GA 30303