Fed Governor Bowman said the Fed needs to consider the pace and timeline for addressing the issue.

Industry sources said Ukrainian drone strikes since late October have knocked Russian refining capacity down roughly 30%. The refineries hit include three large central Russian plants in Ryazan, Yaroslavl and the Volga region with combined nominal capacity of about 300,000 t/day (≈2.2mn b/d); Russia’s total primary refining capacity is about 930,000 t/day. Sources said crude runs at Russian refineries were roughly 700,000 t/day (≈5.0mn b/d) at end-October and estimate actual processing may have fallen by as much as 200,000 t/day.

NVIDIA (NVDA.O) shares slid rapidly in premarket, turning negative and reversing earlier gains of more than 2%.