Global stocks plummet after Russia invades Ukraine
Global News
Russia's attack on Ukraine sent shockwaves through global stock markets on Thursday, with the S&P 500 continuing its downward spiral and oil prices surpassing $100 per barrel.
Stocks tumbled worldwide Thursday after Russia’s attack of Ukraine sent fear coursing through markets and upped the pressure on the high inflation already hurting people and businesses around the world.
The S&P/TSX composite index was down 303.83 points at 20,440.34 in early trading.
The S&P 500 sank two per cent to continue its dismal start of the year. It’s now down almost 14 per cent from the record high it set in early January.
European markets sank even more, with the German DAX down five per cent.
The Canadian dollar traded for 77.92 cents US compared with 78.63 cents US on Wednesday.
Bond yields fell as investors sought safety and the price of oil soared above $100 a barrel.
The April crude contract was up US$7.01 at US$99.11 per barrel and the April natural gas contract was up 27 cents at US$4.86 per mmBTU.
The April gold contract was up US$47.00 at US$1,957.40 an ounce and the May copper contract was down less than a penny at US$4.49 a pound.
