SQUAWK BOX, FRIDAY 11TH FEBRUARY, 2022

US consumer prices surge to a 40-year high in January, sending the 10-year Treasury yield past the 2 percent mark. But, President Biden tells NBC he still believes price pressures will ease despite persistent inflation prints. Markets respond as yields spike and the Dow drops more than 500 points, with hawkish comments from St. Louis Fed President James Bullard compounding the tech stock losses. Meanwhile, talks in Berlin fail to de-escalate the Russia-Ukraine crisis. The UK Foreign Secretary's mission to Moscow also comes up short, after sharp exchanges between Liz Truss and Sergei Lavrov. And France goes all in on nuclear. President Macron announced the country’s “nuclear renaissance,” after giving the green light for at least half a dozen new reactors, which he says will help push the country towards carbon neutrality.