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US and European Stock Markets Ended Down, on Russia-Ukraine Crisis, DAX at 13-Month Low.


London, Thursday, 03 March 2022



US Markets Summary


As investors remained focused on the Russia-Ukraine crisis and Federal Reserve Chairman Jerome Powell's Senate hearing, the Dow Jones fell 0.3 percent, while the S&P 500 and the tech-heavy Nasdaq fell 0.5 percent and 1.6 percent, respectively.


Snowflake's stock dropped over 15% after the company issued weaker-than-expected sales guidance.


Following strong earnings results, Kroger gained over 11%, while Best Buy gained over 9%.


European Markets Summary


As the crisis in Ukraine enters its second week, investors are concerned about how the current increase in commodity prices will affect inflation and thus monetary policy decisions.


On Thursday, European equities markets plummeted significantly, with Germany's DAX falling more than 2% to a 13-month low.


Travel and retail companies underperformed the market, while mining stocks outperformed. In addition, the energy sector fell about 4% as oil prices fluctuated.


Banks, on the other hand, fell roughly 1.5 percent, extending losses from earlier in the week due to concerns about their exposure to Russia and fading expectations of ECB rate hikes.


In terms of data, services PMIs for the Eurozone, Germany, and France were revised lower, but new results for Italy and Spain exceeded expectations.


In other news, growth in the US services sector unexpectedly dropped to a one-year low in February. Due to the war in Ukraine and the pandemic, Lufthansa stated it couldn't make a precise earnings forecast for 2022.


U.S. Stock Market Indexes as at 4:04 p.m. ET

  • S&P 500: -23.05 (-0.53%) to 4,363.49

  • Nasdaq: -214.08 (-1.56%) to 13,537.94

  • Dow Jones: -96.69 (-0.29%) to 33,794.66


European Stock Market Indexes

  • STOXX Europe 600: -8.97 or 2.01%, to close at 437.36

  • FTSE 100 in London: -190 or 2.57%, to finish at 7,238

  • DAX 30 in Germany: -301 or 2.16%, to end the day at 13,698

  • CAC 40 in France: -119 or 1.84%, to 6,378

  • FTSE MIB 30 in Italy: -575or 2.35%, to close at 23,958

  • IBEX 35 in Spain: worst performer of the day, -309 points, or 3.72%, to 8,011


Other Markets

  • Ten-year U.S. Treasury note: -2.1 bps to yield 1.8440%

  • Dollar index: +0.34 or +0.35% at 97.73 as on Mar 3, 2022 6:05 p.m. EST

  • VIX volatility index: −0.26 (0.85%) at 30.48 as on Mar 3, 3:15 PM CST


Oil prices

  • Brent crude: +1.21 or +1.12% at $ 108.93 per barrel as on Mar 3, 2022 at 6:20 p.m. EST

  • West Texas Intermediate: +1.27 or + 1.18% at $ 109.13per barrel as on Mar 3, 2022 at 6:21 p.m. EST


Precious metals

  • Gold: +7.09 or +0.37% at $1,935.87an ounce as on Mar, 03 2022 at 17:59 NY Time

  • Silver: -0.16 or -0.62% at $ 25.14 an ounce as on Mar, 03 2022 at 17:59 NY Time


Cryptocurrencies

  • Bitcoin: −1,372.20 (3.12%) at $ 42,544.20 as on Mar 3, 11:29 PM UTC

  • Ethereum: −112.84 (3.83%) at $ 2,835.69 as on Mar 3, 11:34 PM UTC


(Written and edited by: The Decision Maker)