Nathan Hager

The sharp sell-off followed a proposal from a top South Korean policymaker to introduce a so-called citizen's dividend using taxes on AI profits.

The KOSPI, which at one point was down 5%, closed down more than 2%.

Kevin Warsh's nomination to the Fed Board of Governors has cleared the first in a series of Senate votes planned this week to install him as chair of the Central Bank.

A separate Senate vote confirming Warsh to succeed Jerome Powell as chairman of the board is expected later in the week.

Time now for the Bloomberg Sports Update and we bring in John Stashower.

John.

Thanks, John.

And that's news when you want it with Bloomberg News Now.

I'm Karen Moscow.

The big focus is on inflation.

The April Consumer Price Index comes out Tuesday.

In the second month of the Middle East war, economists expect a jump to 3.7%.

Then on Wednesday, producer prices come out.

That gauge could jump to 4.8%.

And then on Thursday, we get April retail sales.

That figure is expected to fall to six-tenths of a percent after a 1.7% gain in retail sales in March.

Nathan Hager, Bloomberg Radio.

Reports have identified the victim as Bob Lee, the founder of Cash App.

The big focus is on inflation.

The April consumer price index comes out Tuesday.