Futures fall, Europe stocks slide as attack on Ukraine escalates
BNN Bloomberg
U.S. futures slid and European equities tumbled to a one-year low as war risks intensified after a Ukrainian nuclear power plant briefly caught fire.
U.S. futures slid and European equities tumbled to a one-year low as war risks intensified after a Ukrainian nuclear power plant briefly caught fire.
Contracts on U.S. gauges signaled more losses for Wall Street as investors awaited the monthly jobs report. Europe’s Stoxx 600 benchmark fell nearly 3 per cent, poised for its worst week since March 2020. An Asian equity index also slipped.
Risk appetite in global markets has plummeted after Russia’s invasion of its neighbor and the ensuing sanctions by the U.S. and its allies, while commodities are surging on supply concerns. S&P 500 futures initially slumped as Ukraine said a nuclear plant was on fire after Russian shelling of the area, before coming off lows as the blaze was contained.
Treasuries and gold climbed amid haven demand, while oil headed for its biggest weekly surge in almost two years. The dollar gained and the euro slipped.
The intensifying war is prompting investors to exit European equities like never before amid rising inflation risks, according to Bank of America Corp. strategists. Financial stocks also saw record outflows in the week to March 2, they wrote citing EPFR Global data.
