Recession fears plunge markets further into bear territory — Quartz Daily Brief — Quartz

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Markets fell further into bear territory. A spike in interest rates fueled investors’ recession fears, but President Joe Biden told the Associated Press a recession is “not inevitable” and pointed to the low unemployment rate as a reason for optimism.

Elon Musk met with Twitter employees. In his first Q&A with staff, he laid out his vision for the platform he’s proposed to buy. Meanwhile, Tesla and SpaceX are embroiled in HR issues, and to top it all off their billionaire CEO faces a $258 billion lawsuit over dogecoin.

The WTO finally sealed a deal. The agreement includes loosening intellectual property protections for covid-19 vaccines, but critics argued the measure does not go far enough.

Florida was the only US state that did not order covid-19 vaccines for kids under 5. Governor Rob DeSantis rejected vaccinations for toddlers and infants.

Art collectors are still splurging. Several big-ticket items sold at the first Art Basel fair to be held in person since the pandemic, including a $40 million giant spider sculpture.

FIFA revealed which North American cities will host the 2026 World Cup. The games will take…

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