RateCaptain
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us
No Result
View All Result
RateCaptain
No Result
View All Result
Home Business

See how Russian and Ukraine war is disrupting global markets

Rate Captain by Rate Captain
February 24, 2022
in Business, Economics, News, Power
Reading Time: 2 mins read
A A
0

close up shot of a digital stock market tracking graph follwing a recent crash in prices. Bear market 3D illustration

Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

Russian President Vladimir Putin’s decision to invade Ukraine, which could spark the biggest war in Europe since 1945, has immediately stoked alarm among investors, who had been hoping such an outcome would be avoided.

What’s happening: News early Thursday that Russian forces had begun an attack on Ukraine, with reports of troops crossing the border to the north and south, immediately reverberated across the market.

AlsoRead

IMF- Global Economy growth is expected to be slow in 2023

FCTA bans POS operators from residential areas

Breaking News: All flights cancelled as aviation handling company strikes indefinitely.

Traders, who had already been on edge about soaring inflation and the looming end of pandemic-era support from central banks, dumped riskier assets like stocks while rushing into traditional safe-haven assets such as gold that get a boost during periods of uncertainty. Global oil prices topped $100 per barrel for the first time since 2014.

“Financial markets are predictably witnessing a flight to safety and may have to price in slower growth on the further spike in energy prices,” Chris Turner, ING’s global head of markets, said in a note to clients.

Here’s a rundown of how financial markets have been impacted.

Global stocks: Stocks in Asia plunged, but the sell-off accelerated as trading kicked off Europe. The region’s Stoxx 600 index plummeted almost 4% in early trading. Germany’s benchmark DAX index was nearly 5% lower. US stock futures also point to major losses when markets open.

Russian stocks: The MOEX index crashed by more than 40%. The Moscow stock exchange suspended trading earlier on Thursday. But when dealing resumed, stocks went into free-fall.

The ruble: Russia’s currency collapsed, hitting an all-time low against the US dollar and the euro. It was last trading at almost 84 to the dollar.

Crypto: Bitcoin, already under huge pressure, lost another 6% and was last trading near $35,000. It’s shed roughly half its value after hitting an all-time high in November. Ether also took a hit, dropping 9%.

Oil and gas: Oil prices are experiencing their biggest one-day run-up since 2020. Brent crude futures, the global benchmark, are up more than 8%, with oil topping $105 per barrel. In the United States, oil is near $100 per barrel. Natural gas prices are surging, too.

Gold: The yellow metal, which typically gets a boost when Wall Street is worried about inflation, jumped 3% to more than $1,960 per ounce. That’s its highest level since the middle of 2020.

Grains: Russia is the world’s top exporter of wheat, while Ukraine is a significant exporter of both wheat and corn. Wheat prices jumped almost 6% to their highest level since 2012. The price of corn leaped 5%.

Volatility: The VIX, which tracks S&P 500 volatility, just spiked 20%. The index is now at its highest level in more than a year.

Previous Post

EU REACTS AS IT PROPOSES TO WEAKEN RUSSIA’S ECONOMIC BASE BY FREEZING ALLITS ACCOUNTS, OTHERS.

Next Post

The Russian-Ukranian drift and its resultant effect on the Nigerian economy

Related News

IMF- Global Economy growth is expected to be slow in 2023

IMF- Global Economy growth is expected to be slow in 2023

by Rate Captain
February 1, 2023
0

The International Monetary Fund on Monday 31 January 2023 published its latest economic growth projections for 2023 and 2024 in...

FCTA bans POS operators from residential areas

FCTA bans POS operators from residential areas

by Rate Captain
January 27, 2023
0

The federal capital territory administration (FCTA) has ordered point of sale (POS) operators to limit their operations to commercial zones....

Breaking News: All flights cancelled as aviation handling company strikes indefinitely.

Breaking News: All flights cancelled as aviation handling company strikes indefinitely.

by Rate Captain
January 23, 2023
0

The staff of the Nigerian Aviation Handling Company Plc (NAHCO) embarked on an indefinite strike action, which led to the...

Nigeria’s Inflation Climbs to 19.6% in July 2022

Breaking: Nigeria’s Inflation surprisingly plunged to 21.34% in December 2022

by Rate Captain
January 16, 2023
0

The Nigeria inflation rate in December 2022 eased to 21.34% compared to November 2022 headline inflation rate which was 21.47%....

Next Post

The Russian-Ukranian drift and its resultant effect on the Nigerian economy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Airtel Africa’s nine-month turnover hits $3.9billion.

Airtel Africa’s nine-month turnover hits $3.9billion.

February 3, 2023
Charges on cash transactions skyrocketed by POS agents.

Charges on cash transactions skyrocketed by POS agents.

February 3, 2023

Popular Story

  • Shell’s annual profit hits $39.9 billion.

    Shell’s annual profit hits $39.9 billion.

    0 shares
    Share 0 Tweet 0
  • Charges on cash transactions skyrocketed by POS agents.

    0 shares
    Share 0 Tweet 0
  • Airtel Africa’s nine-month turnover hits $3.9billion.

    0 shares
    Share 0 Tweet 0
  • Naira appreciates to N746/$ in the parallel market.

    0 shares
    Share 0 Tweet 0
  • MTN Nigeria Annual profit hits N361.5 billion.

    0 shares
    Share 0 Tweet 0
RateCaptain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

?>