for a market -- we talked with amy wu silverman earlier. the known and unknown's.ve known about earnings. we have known how the market is getting used to where the economy is going. we have a sense of what jay powell in the fetter up to. we spent a lot of time on that last week. the story of tensions between china and the u.s. at one point was a dominant market theme had really taken a backseat. here it is back in full force. kriti: a complete deja view from the trade war on the trump administration that has reared its ugly head. the market has created some sort of resilience to the war in ukraine, saying this is something we can look through when it comes to commodity prices. not able to digest ore price in what's happening on the east of asia. jon: we will likely see how corporations react to this, not just those that are based overseas but take the caterpillar story that we talked about earlier, already navigating some of the challenges with respect to where the chinese economy is. just tied to the covid lockdowns and the ups and downs of getting back to regular

kriti: amy wu silverman , we thank you for your time and insight.uropean officials planning emergency action for energy prices. a look at what can be done and how it will affect the european economy. this is bloomberg. ♪ kriti: the eu is planning emergency intervention to try to halt soaring energy prices which have jumped tenfold in the past year. the european president seeing skyrocketing electricity prices says the limitations of the current market design. joining us is the climate -- you're at our price caps the only option? >> we don't know that the european commission is taking unprecedented steps but it is going to have some sort of short-term intervention and it will have a profound effect on the electricity market. the eu needs to decouple the power and gas prices because the cost of electricity is getting unbearable for consumers and businesses. jon: you talked about the increasing number of member states talking about price caps. can you elaborate more on that? >> the president holding the talks and the second half of the year is going to