OverallThe stock markets are getting very close to the final capitulation. Always happens in a bear market, large daily sell offs as investors can't take any more pain. Then it's slow buy back in time once interest rates show a peak.
Once again Central banks have proven they haven't a clue from loose policy and too much QE, to the other end of the spectrum, fast tightening without waiting to see if previous interest rate increases are having an effect. Knee jerk reactions from stubborn policy makers.