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US Stocks Ended Lower on Tuesday After a Volatile Session, European Stocks Ended Mostly Lower.


London, Thursday, 08 March 2022



US Markets Summary


On Tuesday, US markets ended a bumpy session lower, extending yesterday's dramatic drop, as the Russian invasion of Ukraine and the resulting surge in commodities prices fuelled fears of a worldwide economic slowdown.


The key Wall Street indices plummeted as US President Biden ordered an embargo on Russian oil imports, putting supply chains in jeopardy and increasing inflationary pressure on countries around the world.


The Dow Jones finished 185 points lower at 32,632 after giving up a 585-point gain in the session, while the S&P 500 and the tech-heavy Nasdaq slid 0.7 percent and 0.3 percent, respectively. Energy stocks benefited from rising crude oil prices, with Chevron (5.1 percent) seeing strong gains.


The renewable energy sector, led by Enphase Energy (10.8 percent) and SunPower, has also benefited from higher petroleum prices (18.7 percent).



European Markets Summary


On Tuesday, Europe's major stock indices swung back and forth between gains and losses, with the DAX and FTSE 100 finishing flat, while the CAC 40 and the Stoxx 600 each down 0.3 percent and 0.4 percent.

The news of embargoes on Russia's energy goods, the EU's large expenditure plans, and the ongoing war in Ukraine dominated market mood.


The United States has prohibited the importation of crude oil, LNG, and coal, while the United Kingdom's approach will be phased in over the following months and will not target natural gas.


The EU remained divided, as Russia continues to play a larger role in oil and gas deliveries.


In addition, the EU would consider issuing joint bonds to fund energy and defence spending, while Ukrainian and Russian officials concluded yet another round of ceasefire talks with little progress. Banks gained 2% after hitting a one-year low on the eve, while media companies lost 3.6 percent.


U.S. Stock Market Indexes as at 4:00 p.m. ET

  • S&P 500: -30.47 (-0.73%) to 4,170.62

  • Nasdaq: -35.41 (-0.28%) to 12,795.55

  • Dow Jones: -185.66 (-0.57%) to 32,631.72


European Stock Market Indexes

  • STOXX Europe 600: −2.12 (0.51%) at 415.01 as on 8 Mar, 18:00 CET

  • FTSE 100 in London: +4.63 (0.067%) at 6,964.11 as on 8 Mar, 16:35 GMT

  • DAX 30 in Germany: −3.14 (0.024%) at 12,831.51 as on 8 Mar, 17:55 CET

  • CAC 40 in France: −19.31 (0.32%) at 5,962.96 as on 8 Mar, 18:05 CET

  • FTSE MIB 30 in Italy: +177.85 (0.80%) at 22,338.13 as on 8 Mar, 17:42 CET

  • IBEX 35 in Spain: +138.80 (1.82%) at 7,783.40 as on 8 Mar, 17:38 CET


Other Markets

  • Ten-year U.S. Treasury note: +12.1 bps to yield 1.8720%

  • Dollar index: -0.19 or -0.19% at 99.10 Mar 8, 2022 5:20 p.m. EST

  • VIX volatility index: −1.32 (3.62%) at 35.13 as on 8 Mar, 15:15 GMT-6


Oil prices

  • Brent crude: +5.37 or + 4.50% at $ 124.77 per barrel as on Mar 8, 2022 4:59 p.m. EST

  • West Texas Intermediate: +5.37 or +4.50% at $ 124.77 per barrel as on Mar 8, 2022 4:59 p.m. EST


Precious Metals

  • Gold: +51.50 or +2.58% an ounce as on Mar, 08 2022 at 17:36 NY Time

  • Silver: +0.75 or +2.92% an an ounce as on Mar, 08 2022 at 17:36 NY Time


Cryptocurrencies

  • Bitcoin: +536.70 (1.41%) at $ 38,534.70 as on 8 Mar, 22:34 UTC

  • Ethereum: +76.09 (3.05%) at $ 2,567.76 as on 8 Mar, 22:34 UTC


(Written and edited by: The Decision Maker)