What is the stock exchange doing today?

Russia’s attack on Ukraine is already having a major impact on the global economy.

NEW YORK – US President Vladimir Putin on Thursday signaled a sharp drop in global markets following global slump and rising oil prices following the start of military operations in Ukraine, prompting Washington and Europe to promise sanctions to Moscow that could shake the global economy.

Oil prices rose more than $ 7 a barrel, and Wall Street’s S&P 500 index and Dow Jones Industrial Average futures fell more than 2.5 percent.

As traders try to understand how big Putin’s intervention will be and the scale of the West’s response, market benchmarks in Europe and Asia have fallen by 5%.

Rising energy prices have raised fears of inflation. The spot price of natural gas supplied by the continent from Russia in Europe has increased by 31%.

Brent crude in London topped $ 100 a barrel for the first time since 2014, with producer No. 3 worried about a possible cut in supplies from Russia. Benchmark is behind the US crude at about $ 99 per barrel. Prices for wheat and corn have also risen.

Although the ruble depreciated to 7.5% against the dollar overnight, it depreciated by about 5% in the morning.

ING’s Chris Turner and Francesco Pesole said in a report that financial markets were “flying towards security” due to high energy costs and may have to assess prices at a slower pace.

In Brussels, the president of the European Commission said on Thursday that the 27-nation European Union was planning “massive and targeted sanctions” against Russia.

“We will hold President Putin accountable,” Ursula von der Leyen said.

The FTSE 100 in London fell 3.3% after Europe woke up to the news of explosions in the Ukrainian capital, Kiev, Kharkov and elsewhere. The DAX lost 5.4% in Frankfurt and the CAC lost 4.9% in Paris.

The Moscow Stock Exchange temporarily suspended trading in all markets on Thursday morning. Following the resumption of trading, the ruble-denominated MOEX stock index fell more than 20 percent and the dollar-denominated RTS index fell more than a third.

The S&P 500 fell to a eight-month low of 1.8 percent on Wednesday after the Kremlin demanded military aid from rebels in eastern Ukraine. Moscow sent troops to the rebel-held areas after they recognized them independently.

Some analysts expect the conflict to deprive investors of many technological resources, with the exception of the cybersecurity sector.

Analysts at Wedbush Securities wrote in a note to customers: “Mass cyber warfare may be on the horizon, which will undoubtedly lead to increased costs to prevent complex cyber attacks based on Russia.”

Putin said Russia must protect civilians in eastern Ukraine, a claim that Washington predicted would be used to justify the occupation.

President Joe Biden called the attack “non-provocative and unfounded” and said Moscow would be held accountable, which meant many would impose additional sanctions on Washington and its allies. Moscow security guarantee.

Washington, Britain, Japan and the EU have previously imposed sanctions on Russian banks, officials and business leaders. Additional options include a ban on Russia’s banking system from the global system.

In electronic trading on the New York Mercantile Exchange, the price of oil in international markets rose by $ 101.27, and West Texas Intermediate was up $ 7.65 to $ 99.75 per barrel. The contract fell 25 cents to $ 92.10 on Wednesday.

In Asia, the Nikkei 225 in Tokyo decreased by 1.8% to 25,970.82 points, and the Hang Seng in Hong Kong decreased by 3.2% to 22,901.56 points. The Shanghai Composite Index fell 1.7 percent to 3,429.96.

Forecasters say Asian economies are less at risk than Europe, but those in need of imported oil could be exposed to higher prices if Russia’s supply is disrupted.

In Seoul, the Kospi index fell 2.6% to 2,648.80, while in Sydney, the S&P-ASX 200 fell 3% to 6,990.60.

India’s Sensex index fell 4.7% to 54,529.91. New Zealand lost 3.3% and Southeast Asian markets also fell.

Investors were already worried about the possible impact of the Federal Reserve’s plans to try to cool inflation by withdrawing ultra-low interest rates and other stimuli that boosted stock prices.

The dollar weakened from 114.98 yen to 114.69 yen on Wednesday. The euro fell from $ 1.1306 to $ 1.1168.

What is the stock exchange doing today?

Source link What is the stock exchange doing today?

Back to top button