All Major US Indexes Down as Tensions at The Ukrainian Border Remain, European Stocks Under Pressure
London, Friday, 11 February 2022 -
US Markets summary
Three major US stock market indexes finished substantially lower as investors sought safe haven assets in the wake of rising tensions between Russia and Ukraine, as well as trying to assess the Federal Reserve's response to persistent inflation.
The Dow was down 504 points, the S&P 500 was down 1.8 percent, and the Nasdaq was down 2.8 percent.
As more Russian forces were brought closer to the border, the White House issued a warning that Russia may attack Ukraine at any time, asking Americans to flee.
After data showing inflation reaching 7.5 percent in January, St. Louis Fed President Bullard advocated for two 50-basis-point rises by the beginning of July.
European Markets summary
On Friday, European shares continued under pressure, with the regional STOXX 600 index ending the day in the red, amid growing concerns over the recent increase in inflation, which is likely to compel central banks to raise rates more swiftly.
The ECB's interest rate is expected to rise by 50 basis points by December, according to investors.
A boost, however, would not address rising oil costs or interrupted supply lines, according to Lagarde.
High-growth tech-related stocks fell the most, with the potential of increasing interest rates threatening to devalue those businesses' valuations.
On the economic front, the latest GDP results reveal that the Omicron version had a minimal impact on the British economy, with the economy dropping less than projected in December and growing 1% for the overall quarter.
In Germany, the benchmark DAX 30 ended the week with a loss of roughly 15,400 points, but a weekly gain of over 2%.
U.S. Stock Market Indexes as at 4:01 p.m. ET
S&P 500: -85.59 (-1.90%) to 4,418.49
Nasdaq: -394.49 (-2.78%) to 13,791.15
Dow Jones: -504.12 (-1.43%) to 34,737.47
European Stock Market Indexes
STOXX Europe 600: −2.78 (0.59%) at 469.57 as on Feb 11, 5:50 PM GMT+1
FTSE 100 in London: −11.38 (0.15%) at 7,661.02 as on Feb 11, 4:35 PM GMT
DAX 30 in Germany: −65.32 (0.42%) at 15,425.12 as on Feb 11, 5:55 PM GMT+1
CAC 40 in France: −89.95 (1.27%) at 7,011.60 as on Feb 11, 6:05 PM GMT+1
FTSE MIB 30 in Italy: −224.10 (0.82%) at 26,966.10 as on Feb 11, 5:35 PM GMT+1
IBEX 35 in Spain: −88.10 (0.99%) at 8,798.10 as on Feb 11, 5:38 PM GMT+1
Ten-year U.S. Treasury note: -7.6 bps to yield 1.9550%at 4:00 p.m. ET
Dollar index: +0.49 or + 0.51%96.04 as on Feb 11, 2022 at 4:08 p.m. EST
VIX volatility index: +4.17 (17.44%) at 28.08 as on Feb 11, 3:03 PM CST
Brent crude: +4.08 or + 4.54% at $ 93.90 as on Feb 11, 2022 at 4:09 p.m. EST
West Texas Intermediate: +4.08 or + 4.54% at $ 93.97 as on Feb 11, 2022 at 4:11 p.m. EST
Gold: +36.84 or +2.02% at $ 1,863.56 an ounce as on Feb 11, 16:22 NY Time
Silver: +0.49 or +2.13% at $ 23.67 an ounce as on Feb 11, 16:22 NY Time
Bitcoin: −890.40 (2.05%) at $ 42,637.30 as on Feb 11, 9:19 PM UTC
Ethereum: −137.55 (4.47%) at $ 2,937.43 as on Feb 11, 9:20 PM UTC
(Written and edited by: The Decision Maker)