The FT News Briefing is supported by Equinole, the UK's energy partner.

Learn more at equinole.co.uk

Good morning from the Financial Times.

Today is Tuesday, August 23rd, and this is your FT News Briefing.

Ben and Jerry's lost its battle to stop selling its ice cream in the West Bank,

and Wall Street is skeptical about the summer market rally.

Plus, we'll find out more about the 20-year-old college student

who made more than $100 million betting on a meme stock.

I'm Mark Filipino, and here's the news you need to start your day.

US stocks slid lower on Monday.

The S&P 500 fell more than 2%, it's the biggest drop in two months.

Investors are increasingly worried about how much central banks will raise

interest rates to battle inflation.

But for most of the summer, actually, stocks have been rallying.

The question is, what's behind this upswing?

The FT's Eric Platt says a lot of people on Wall Street are skeptical.

And that's because over the last few weeks, there hasn't been much to really give you

faith that the big drivers of the market, the economy, inflation, and what the Fed is going to do,

has really gotten to a better place, right?

And so there's a sense amongst big investors and money managers

that maybe the rally that they've seen so far doesn't have the kind of conviction behind

that you'd want to see.

...