- US stock markets fell in line with global peers and other risk assets on Thursday as Russia invaded Ukraine.
- But the feeling improved; US equities trimmed a decent portion of pre-market losses.
- The S&P 500 was last down 1.5%, after being down as much as 2.6% previously.
US stock markets They fell in line with their global peers and other risk assets on Thursday when worst fears were confirmed, with Russia beginning a full-scale invasion of Ukraine. However, sentiment improved after the opening of US trading, apparently as a result of profit taking by holders of short positions through purchases or dive. The S & P 500 was negotiated last in the area 4170, after having undergone substantial rise of over 1.5% from the minimum just above 4,100. At current levels, the index is trading losses on the day of just over 1.0%.
The rally was driven by growth and technology stocks as investors flocked to US bonds, pushing yields lower and lowering the opportunity cost of holding high-earning-rate stocks. The Nasdaq 100 Index last traded just 0.5% below the 13,500 level, a rebound of more than 3.0% from pre-market trading lows just above 13,000. Meanwhile, the Dow Jones, an index weighted more towards economically sensitive stocks and less towards technology/growth, last traded around 1.9%, reflecting broader fears about the impact of the new European war on the global economy. .
The US, UK and EU have vowed to hit Russia with unprecedented economic sanctions, stoking investor fears that the conflict will have a highly inflationary impact (European gas futures are already up around 50 percent). % on day). “I don’t think many investors have dealt with the combination of rising inflation, which was last seen in the early 1980s, combined with a large-scale military operation in Europe, which again, the last time it happened was in the Second World War”. one analyst observed. “It’s a confidence boost,” they added, “to say that this is uncharted territory for a lot of people.”
Additional technical levels
Source: Fx Street
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