Silver’s Cash Index reached a high near $86.45 before losing momentum, with an ounce of silver valued higher than a barrel of oil. China escalated military activity around Taiwan post-earthquake. Corn market saw quiet lower trend, while soybeans market also opened lower. Wheat markets, including SRW and HRW, remained in the red pre-dawn. Watson defended net-long futures position in corn, soybeans market dealt with potential cancellations by China. Winter storm affected US Plains and Midwest, impacting new-crop wheat prices. Silver, corn, soybeans, and wheat markets showed volatility to start the week. 1. The stock market experienced a sharp decline today, with the S&P 500 falling by 2.5% and the Dow Jones Industrial Average dropping by 3%. This comes as investors are concerned about rising inflation and interest rates.

2. In other news, Tesla announced record sales for the first quarter of the year, with deliveries reaching 184,800 vehicles. This is a 109% increase compared to the same period last year.

3. The housing market continues to boom, with home prices increasing by 11.3% in February compared to the previous year. Low mortgage rates and high demand are driving the surge in prices.

4. Apple unveiled its latest product, the AirTag, a small tracking device that can be attached to items like keys or wallets. The AirTag uses Apple’s Find My network to help users locate lost items.

5. In the tech sector, Google reported strong earnings for the first quarter, with revenue increasing by 34% to $55.3 billion. The company attributed the growth to increased online advertising spending.

Read more at 1. Tesla announces record-breaking quarterly earnings, surpassing expectations with a profit of $1.14 billion. Investors are pleased with the strong performance, sending Tesla’s stock price up 5% in after-hours trading. – Barchart

2. The Federal Reserve signals potential interest rate hikes as inflation continues to rise, prompting concerns about the impact on the economy. Fed Chair Jerome Powell emphasizes the need for a gradual approach to monetary policy. – Barchart

3. Amazon reports a 43% increase in quarterly revenue, driven by strong sales in its e-commerce and cloud computing divisions. Despite the positive results, Amazon’s stock price dips as investors express concerns about rising costs. – Barchart: Were There Many Surprises In Monday Morning’s Markets?