Stocks and futures fall, bonds surge on Ukraine
BNN Bloomberg
A risk-off mood continued to grip global markets on Tuesday as the conflict in Ukraine intensified.
A risk-off mood continued to grip global markets on Tuesday as the conflict in Ukraine intensified amid mounting penalties against Russia. U.S. equity futures fell along with stocks in Europe, while bonds surged and oil pushed sharply higher.
Futures on the S&P 500 and Nasdaq 100 declined, signaling a weak U.S. open. The Treasury 10-year yield extended Monday’s drop. WTI crude rose above US$100 a barrel as traders balanced the possible release of emergency stockpiles against fears of disruption to Russian energy exports.
Bonds throughout Europe gained, with Germany’s 10-year yield heading back below zero percent for the first time since January. Traders are betting the European Central Bank will put off raising interest rates until next year as the economic fallout from Russia’s invasion of Ukraine dents growth in the region.
Carmakers and travel stocks led a decline of more than 2 per cent in the Stoxx Europe 600 index. Basic resources was the only sector in the green as commodity prices extended a rally. Bayer AG gained after positive results, but warned that the Ukraine conflict poses a risk to its outlook.
Hopes of an early negotiated settlement over Ukraine faded after Russia vowed to continue its attack until its goals are met, and troops were seen moving in a large convoy toward the capital, Kyiv. In the latest development on the sanctions front, the European Union is discussing the exclusion of seven Russian banks from the SWIFT financial-messaging system, including VTB Bank PJSC and Bank Rossiya, according to a draft list of the proposal.
Three weeks into an escalating war, the U.S. is sending more warships and marines to the region even as U.S. President Donald Trump said Friday that his administration was considering “winding down” military operations in the Middle East.
The Ontario government’s push to cap resale ticket prices for events across the province might not be much help to fans.
Tesla is looking to buy equipment worth US$2.9 billion for manufacturing solar panels and cells from Chinese suppliers including Suzhou Maxwell Technologies, two people familiar with the matter said, as CEO Elon Musk aims to add 100 gigawatts of solar capacity in the United States.
U.S. President Donald Trump is widening the cracks between the United States and European NATO members with his calls for allies to help him finish the war he started with Iran.
The Canada Revenue Agency says it will get rid of dozens of drop boxes used for tax filing and payments across the country after this tax season.
The Pentagon is seeking US$200 billion in additional funds for the Iran war, a sizable amount that is certain to be met with questions from Congress, which would need to approve any new money.
Defence Minister David McGuinty says the federal government is giving a big boost to the munitions industry to build up the domestic supply of heavy artillery shells.
Defence Minister David McGuinty says the federal government is giving a big boost to the munitions industry to build up the domestic supply of heavy artillery shells.
The Bank of Canada today held its target for the overnight rate at 2.25 per cent, with the Bank Rate at 2.5 per cent and the deposit rate at 2.20 per cent.
Saskatchewan’s government is planning to table a deficit budget today in a move that Premier Scott Moe says protects public services.
Culture Minister Marc Miller says the government must have a serious conversation about AI systems’ use of news.
Delta Air said on Tuesday it expects first-quarter profit within its initial forecast range but raised its revenue expectations on strong demand, amid high jet fuel prices due to the conflict in the Middle East.
The United Arab Emirates briefly closed and then reopened its airspace Tuesday, temporarily halting flights in a crucial travel hub, as the country’s military said it was facing incoming attacks from Iran.