Global Market Watch: Fed rate hike, Diesel shortage, China covid surge

Markets are in a wait and watch mode as traders across the globe grapple with multiple cues spanning from crucial central bank policies, war and the resurgence of Covid. Here is what you need to keep an eye on-:

• Federal Reserve Meeting: The US central bank to meet on March 15-16, likely to raise rates for the first time since 2018 and start to trim down the $8.8 trillion dollar balance sheet.
• Global Diesel Shortage: Experts warn fuel sales may be restricted in UK, Germany as Russian war continues to add pressure to supply. From US to Singapore fuel oil are falling significantly below pre-pandemic levels.
• China Covid Concerns: China battles worst Covid outbreak for two years as cases double in 24 hours. Shenzen imposes a lockdown and Shanghai restricts travel once again.