London, Friday, 04 March 2022
US Markets Summary
The Dow Jones dropped nearly 200 points for the fourth week in a row, while the S&P 500 and the tech-heavy Nasdaq dropped 0.8 percent and 1.7 percent, respectively.
The news of Russian soldiers storming and seizing Europe's largest nuclear power facility in Ukraine continued to dominate market mood.
On the statistical front, the US economy added 678K jobs in February 2022, the highest in seven months and significantly more than market expectations of 400K.
The employment market report came on the heels of a high inflation figure last month, which fuelled speculation that the Federal Reserve may take more aggressive action.
European Markets Summary
As investors sought shelter in bonds amid rising hostilities in Ukraine, European equity markets closed dramatically lower on Friday, with the DAX finishing at a 14-month low and the Stoxx 600 at a one-year low, led by drops in banks.
While the Ukrainian President reaffirmed the need for a no-fly zone in the nation, Russian forces attacked Europe's largest nuclear power facility, which briefly caught fire.
In Brussels, the EU's foreign ministers also considered the possibility of further penalties.
A new round of penalties, according to Ireland's Foreign Minister, might affect even more Russian banks.
On the data front, Eurozone retail sales fell short in January, while the US economy added many more jobs than predicted in February.
For the third week in a row, European stock markets have fallen, with the worst weekly decrease since March 2020.
U.S. Stock Market Indexes as at 4:01 p.m. ET
S&P 500: -34.62 (-0.79%) to 4,328.87
Nasdaq: -224.50 (-1.66%) to 13,313.44
Dow Jones: -179.99 (-0.53%) to 33,614.67
European Stock Market Indexes
STOXX Europe 600: -15.58 points, or 3.56%, to close at 421.78
FTSE 100 in London: -251 points, or 3.48%, to finish at 6,987
DAX 30 in Germany: -603 points, or 4.41%, to end at 13,094
CAC 40 in France: -316 points, or 4.97%, to 6,061
FTSE MIB 30 in Italy: worst performer, -1,494 points, or 6.24%, to close at 22,464
IBEX 35 in Spain: -290 points, or 3.63%, to 7,720
Ten-year U.S. Treasury note: -12 bps to yield 1.7240%
Dollar index: +0.72 or+ 0.74% at 98.51
VIX volatility index: +1.50 (4.92%) at 31.98
Brent crude: +0.08 or + 0.07% at $ 118.19 as on Mar 4, 2022 10:41 p.m. GMT
West Texas Intermediate: -0.66 -0.57% at $ 115.02 as on Mar 4, 2022 9:58 p.m. GMT
Gold: +34.17 or +1.76% at $ 1,970.67 an ounce as on Mar, 04 2022 at 17:15 NY Time
Silver: +0.59 or +2.37% at $ 25.73 an ounce as on Mar, 04 2022 at 17:15 NY Time
Bitcoin: −3,450.00 (8.12%) at $ 39,014.40 as on Mar 4, 10:59 PM UTC
Ethereum: −221.04 (7.80%) at $ 2,612.50 as on Mar 4, 10:59 PM UTC
(Written and edited by: The Decision Maker)