Oliver O'Connell
The Independent
Oliver O'Connell wrote this article in The Independent:
Wall Street fell sharply at the opening on Thursday following the Russian invasion of Ukraine.
The Dow Jones Industrial Average plunged more than 800 points or approximately 2.5 per cent.
Panicked investors fled for the safety of fixed income assets as markets reacted to the worst case geopolitical scenario on the back of the impact of sky-high inflation.
The tech-heavy Nasdaq Composite fell 2.5 per cent on Thursday putting it into bear market territory - down more than 20 per cent from its high in November 2021.
Wall Street joins a global drop in stock markets. The FTSE 100 in London fell 3. per cent after Europe awakened to news of explosions in the Ukrainian capital of Kyiv, the major city of Kharkiv and other areas.
The DAX in Frankfurt plunged 5. per cent and the CAC in Paris lost 4.9 per cent.
Traders in Asia and Europe spent the day trying to understand what the extent of the incursion would be, but when markets in New York opened it had become clearer.
Bond yields fell as investors sought safety and the price of oil soared above $100 a barrel for the first time since 2014.
The conflict could send prices spiraling even higher at gasoline pumps and grocery stores everywhere.
Wall Street fell sharply at the opening on Thursday following the Russian invasion of Ukraine.
The Dow Jones Industrial Average plunged more than 800 points or approximately 2.5 per cent.
Panicked investors fled for the safety of fixed income assets as markets reacted to the worst case geopolitical scenario on the back of the impact of sky-high inflation.
The tech-heavy Nasdaq Composite fell 2.5 per cent on Thursday putting it into bear market territory - down more than 20 per cent from its high in November 2021.
Wall Street joins a global drop in stock markets. The FTSE 100 in London fell 3. per cent after Europe awakened to news of explosions in the Ukrainian capital of Kyiv, the major city of Kharkiv and other areas.
The DAX in Frankfurt plunged 5. per cent and the CAC in Paris lost 4.9 per cent.
Traders in Asia and Europe spent the day trying to understand what the extent of the incursion would be, but when markets in New York opened it had become clearer.
Bond yields fell as investors sought safety and the price of oil soared above $100 a barrel for the first time since 2014.
The conflict could send prices spiraling even higher at gasoline pumps and grocery stores everywhere.
