London, Monday, 21 March 2022
On Monday, the Dow Jones fell more than 100 points, while the S&P 500 and the tech-heavy Nasdaq also fell as investors shied away from equities due to the lack of progress in Russia-Ukraine peace talks.
Ukraine has rejected a Russian ultimatum to hand over the city of Mariupol, and President Zelenskyy has warned that if peace talks with Russia fail, a third global war might erupt.
In the face of rising Treasury yields, high-growth tech-related equities fell the most.
Energy equities, on the other hand, outperformed the overall market due to increasing oil prices, as the EU considers joining the US in a Russian oil embargo.
Boeing's stock dropped more than 5% after a China Eastern Airlines Boeing 737 passenger plane crashed.
After rejecting a takeover bid from a private equity group, Nielsen Holdings' stock dropped about 10%. In the meantime, Alleghany Corp jumped 25% when Warren Buffett's Berkshire Hathaway announced that it had agreed to buy the company.
(Written and edited by: The Decision Maker)
