**__ Diplomatt’s Daily Digest – February 11, 2022__**
Good morning and happy Friday, everyone! Stock futures were lower in morning trading after a sharp Thursday sell-off on Wall Street spurred by the hottest inflation reading in four decades that was even higher than expectations. Thursday’s rout in risk assets came as Treasury yields spiked in reaction to data that showed consumer prices surged more than 7% last month, the highest gain since February 1982. The 10-year Treasury yield jumped above 2% for the first time since 2019, while the rate-sensitive 2-year yield soared more than 26 basis points at one point in its biggest intraday move since 2009. Yields retreated a bit Friday, though the 10-year still held above 2%. The hotter-than-expected inflation reading prompted St. Louis Fed President James Bullard to call for accelerating rate hikes — a full percentage point increase by the start of July.
Quote of the week: “Do not be embarrassed by your failures, learn from them and start again.” – Richard Branson
• President Biden has issued a warning that U.S. citizens should leave Ukraine immediately as tensions with Russia over its military activity continue to intensify.
• The boss of European food delivery firm Delivery Hero has apologized to investors after shares of the company plummeted more than 30% on disappointing earnings guidance for 2022.
• Zillow shares soared as much as 20% in extended trading on Thursday after the digital real estate company said it’s getting out of the home-flipping business more quickly and economically than it previously expected.
• A California civil rights agency sued Tesla this week, alleging racist harassment and discrimination against Black workers that has persisted for years at the company’s car assembly plant and other facilities in the state.
• Tesla is recalling 578,607 vehicles in the United States because pedestrians may be unaware of an approaching vehicle if warning risk sounds are obscured.
• Affirm stock dropped 21% to a share price of $58.68 on Thursday after the company reported second-quarter results ahead of schedule.
• Shares of rocket builder Astra fell sharply after the company’s latest mission failed to reach orbit.
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