Stock markets reel, oil prices surge after Russia attacks Ukraine – By Alain Sherter (Moneywatch) / February 24, 2022
Global financial markets plunged and oil prices surged after Russia began its long-anticipated attack on Ukraine.
Dow stock futures fell roughly 800 points late Wednesday as investors pulled back amid concerns a prolonged conflict could push up energy prices, add to inflationary pressures and slow economic growth. They regained a bit of footing early Thursday and were down roughly 600 points. S&P 500 futures dropped 1.5% and tech-heavy Nasdaq contracts sank 2%. Asia-Pacific stocks also sold off, with markets in Hong Kong and Sydney sliding 3%, while Tokyo and Seoul sank 2%. European equities markets dropped 2.5%-4% when they opened.
Cryptocurrency markets also fell sharply.
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