Morning Report 7 Dec 22: US sharemarkets fell on Tuesday

<p class="p1">US sharemarkets fell on Tuesday in response to fears of a global economic downturn. Investors are now pricing in a 91% chance of a 50 basis point rate increase by the Federal Reserve next week. Shares in Meta Platforms fell 6.8%, reacting to a report "on a EU ruling that said Facebook and Instagram should not require users to agree to personalized ads based on their digital activity." At the close, the Dow Jones index was down by 351 points or 1.0%. The S&P 500 index fell by 1.4%. And the Nasdaq index lost 225 points or 2.0%.</p> <p class="p1">This report is approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945 (the Bank), and a Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. The information contained within this report is general in nature and has been prepared without taking account of the objectives, financial situation or needs of any particular individual. Any advice contained in this document is general advice only. Before making any investment decision, and before acting on any information in this report, you should consider the appropriateness and suitability of the information to your own needs and if needed, seek professional investment advice. Past performance is not a reliable indicator of future performance. For certain products, you should also consider the relevant Product Disclosure Statement or prospectus in deciding whether to acquire that product. CommSec, our employees and agents may receive commission and fees from transactions involving securities and other investments referred to in this report. We have effected or may effect transactions for our own account on securities and other investments in this report and may make investment decisions that are inconsistent with the recomm