US markets see sharp cuts as the bear market rally loses its steam. The blue-chip Dow Jones Industrial Average fell 1.56%, the S&P 500 dropped 2.01% and the Nasdaq Composite was the laggard, down 3%.
Weak economic data made the market reverse all early gains as bets rise on aggressive hikes from the Fed. The consumer confidence index fell to a reading of 98.7, down from 103.2 in May.
Beyond equities; oil pushed past $112 a barrel on supply risks and Bitcoin striggled around $20,000 as sentiment continues to be sour around digital tokens.