President Biden urged Congress to take swift action on the Bipartisan Innovation Act, a multibillion-dollar investment in the U.S. semiconductor industry.
After a week of extraordinary turbulence, stocks are likely to remain volatile as investors await fresh data on inflation and watch the course of bond yields.
Stock markets are set for more heavy selling this summer as central banks around the world hike interest rates to fight spiraling inflation, said one economist.
Xi Jinping led a meeting stressing that China should stick to its zero-Covid policy and warned of the economic consequences of not doing so, state media said.
The U.K.'s ruling Conservative Party has lost a slew of seats in local elections across England, dealing a potential blow to embattled Prime Minister Boris Johnson.