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By Kristin Myers, Editor-in-Chief

What's Happening Today

Good morning! It's Kristin with your daily morning digest.

U.S. equities continue to fall today after last week's sell-offs slammed tech stocks, cryptocurrencies, and investor portfolios broadly. Though markets rallied on Friday, the Dow, S&P 500, and Nasdaq still fell over 2% for the week, on worries about the Federal Reserve's ability to fight inflation while also avoiding an economic slowdown that turns into a recession.

Amid the market volatility and following the collapse of stablecoin TerraUSD and its sister coin Luna, the cryptocurrency market has also taken a hit, wiping out some $1 trillion of value. The cost of Bitcoin—long viewed as one of the more "stable" coins—fell below $30,000, while the price of Ether is just barely over $2,000.

Investors will be on the lookout for more earnings reports this week from major retail companies like Target, Walmart, Home Depot, and others. The earnings could provide a temporary boost to those stocks if they are strong, or provide more volatility depending on the guidance the market receives on the retail sales report due from the Commerce Department tomorrow—a signal of the strength or weakness of the American economy.

But has the market bottomed out—are the losses over, or will markets sink even further? No one can really say for sure, but there are still buying opportunities for investors who want to take advantage of market declines on stocks they have long-term faith in, or to "buy the dip." And for those of you with retirement portfolios, this remains a good time to consider if you should make some reallocations, or if you are approaching retirement age, should you mitigate the risks that the market volatility presents.

- Kristin

Editors' Picks

'Very, Very High' Risk of Recession, Warns Goldman's Lloyd Blankfein (MarketWatch)

A History of U.S. Bear Markets and Their Recoveries (The Balance)

4 Things to Know as Cryptocurrencies Such as Bitcoin (and Stablecoins) Melt Down (NPR)

U.S. issues charges in first criminal cryptocurrency sanctions case (The Washington Post)

Amid a Worsening Formula Shortage, Mothers Are Asked: 'Why Not Breastfeed?' (The New York Times)

The Companies Paying Travel Costs for Abortions: Tesla, Microsoft, Amazon, on Small but Growing List (The Wall Street Journal)

How To Find the Best Place To Buy a House (The Balance)

Is It a Good Idea To Use a HELOC To Pay for College? (The Balance)

Off the Charts

Grocery bills are relentlessly higher these days, fueling the highest inflation rates we've seen in decades. Which of the items on your regular list are going up the most?

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Number of the Day

5 - That's how many times the price of gas has set new all-time highs since the Russian invasion of Ukraine, showing the war's heavy impact on U.S. consumers.