Prayers for Ukraine. Vladimir Putin is the Hitler of our time. God help Ukraine -
Stocks plunged and oil prices surged by more than $5 per barrel Thursday after President Vladimir Putin launched military action in Ukraine, prompting Washington and Europe to vow sanctions on Moscow that may roil the global economy.
Market benchmarks in Europe and Asia fell by as much as 4% as traders tried to figure out how large Putin's incursion would be and the scale of Western retaliation. Wall Street futures retreated by an unusually wide daily margin of 2.5%.
Brent crude oil briefly jumped above $100 per barrel in London for the first time since 2014 on unease about possible disruption of supplies from Russia, the No. 3 producer. Benchmark U.S. crude briefly surpassed $98 per barrel. Prices of wheat and corn also jumped.
The ruble sank 7.5% against the dollar.
Financial markets are in a “flight to safety and may have to price in slower growth" due to high energy costs, Chris Turner and Francesco Pesole of ING said in a report. (Read more)
Copyright 2022, Sunking278. Stay up-to-date: Twitter – @Sunking278 and Facebook – click here. DONATIONS - click here.
No comments:
Post a Comment