Stocks and U.S. equity futures slid Monday, while havens including sovereign bonds rose, amid fears of an inflation shock in the world economy as oil soared on the prospect of a ban on Russian crude supplies. S&P 500 and Nasdaq 100 contracts fell about 1% and European futures some 2.5%. An Asian stock index was on course for a bear market -- a drop of more than 20% from a February 2021 peak. Brent crude was up 10% after briefly touching $139 a barrel. Palladium and copper hit all-time highs. Secretary of State Antony Blinken said Sunday the U.S. and its allies are looking at a coordinated embargo following Russia’s invasion of Ukraine. The Biden administration could also act alone. High energy prices threaten to stall global growth, a risk that is sending tremors across markets. Grains, metals and energy have surged on concerns of chaos in raw-material flows due to the invasion and sanctions on Russia that are turning the resources powerhouse into a global pariah. Commodity-linked currencies like the Australian dollar strengthened. The euro sank -- at one point dropping below parity against the Swiss franc -- on concerns about the economic outlook for Europe, which relies on Russian energy. Treasuries and the dollar advanced, with the U.S. 10-year Treasury yield falling to about 1.70%. Gold touched $2,000 an ounce. The global economy was already struggling with high inflation due to pandemic-era effects. The Federal Reserve and other key central banks now face the tricky task of tightening monetary policy to contain the cost of living without upending economic expansion or roiling risky assets.
“For the U.S. economy, we now see stagflation, with persistently higher inflation and less economic growth than expected before the war,” Ed Yardeni, president of Yardeni Research, wrote in a note. “For stock investors, we think 2022 will continue to be one of this bull market’s toughest years.”
Nikkei -2.94% Hang Seng -3.38% CSI -2.91% Shanghai -1.96% Shenzen -2.52%
Eur$ 1.0880 CNH 6.3232 CNY 6.3190 JPY 114.96 GBP 1.3210 CHF 0.9207 CHFEUR 0.9982 RUB 133.3375 TRY 14.2784 WTI$ 126.25 +9% Golds 1,979.58 BTC 38,135 -2.31% ETH 2,535 -3.6%
S&P -1.26% Nasdaq -1.71% EuroStoxx -2.96% FTSE -1.79% Dax -3.33% SMI -1.97%
Macro :
- Citi Says Negative Earnings Revisions a Game Changer for Stocks
- U.K. Mulls an Instant Asset Freeze on Russians Facing Sanctions
- Ruble Indicated at Record Low Offshore on Talk of Oil Embargo
- Japan in Talks With U.S., Europe Over Russia Oil Embargo: Kyodo
- CHINA JAN.-FEB. TRADE BALANCE 738.8B YUAN; EST. 452.8B YUAN
- S&P 500 Targets Are Being Slashed as Oil’s Surge Roils Markets
- *UKRAINE CUT TO Caa2 FROM B3 BY MOODY'S, MAY BE CUT FURTHER
- Macron Asks French Companies to Remain in Russia, Le Figaro Says
- Macron Asks French Companies to Remain in Russia, Le Figaro Says
- Italy to Discuss Price-Cap Mechanism for Energy From Russia
Keep an eye on :
- AIR FP : Boeing Aims to Nearly Double 737 Max Production by 2023: Reuters
Keep an eye on :
- AIR FP : Boeing Aims to Nearly Double 737 Max Production by 2023: Reuters
- AIR FP : War Is Latest Setback for Russia’s Answer to the Boeing 737 Max
- AMZN US : Amazon Under Investor Pressure Over Tax Transparency, FT Says
- ARYN SW : Aryzta 1H Underlying Ebitda EU104.0M Vs. EU76.1M Y/y
- AML LN : Aston Martin Partners With Britishvolt on EV Battery Development
- BBBY US : Gamestop Chairman Cohen Discloses Stake in Bed Bath & Beyond
- BEAN SW : Belimo FY Ebit Meets Estimates
- CTH LN : Caretech Founders Plan Bid to Take Company Private: Sky
- CTH LN : Sheikh Holdings Considers Making a Possible Offer for Caretech
- CKN LN : Clarkson FY Adjusted Pretax Profit Meets Estimates
- BN GP : Danone Suspends Investment in Russia, Maintains Dairy Production
- ENGI FP : Russian Gas Cutoff Could Lead to Rationing, Engie Tells Echos
- ERICB SS : Ericsson Sued by Investor Over Disclosure of Possible ISIS Bribe
- RF FP : InfraVia, Eurazeo to Sell Reden Solar Based on EU2.5B Ent. Value
- ITX SM : Zara Owner Inditex Shuts Shops, Halts Online Sales in Russia
- ITX SM : Zara Owner Inditex Shuts Shops, Halts Online Sales in Russia
- IDR SM : *SPAIN OFFERS STAKES IN INDRA TO LA CAIXA, TELEFONICA: EL CONFI
- BAER SW : Julius Baer Halts Business With New Russian Clients: Reuters
- KER FP : Luxury Group Kering to Temporarily Close Its Stores in Russia
- LSEG LN : London Stock Exchange Suspends Some ETFs With Russian Exposure
- MC FP : LVMH to Temporarily Close Its 124 Stores in Russia: AFP
- MED SW : Medartis FY Ebitda CHF27.4M Vs. CHF19.0M Y/y
- B4B GY : Metro AG to Keep Its Russian Stores Open: FT
- OKYO LN : Okyo Pharma Files for ADS Offering, Applied for Nasdaq Listing
- OLVAS FH : Olvi Withdraws From Belarus, Russia; Cancels Financial Guidance
- OMV AV : OMV Won’t Pursue Any More Russia Investments, Mulls Stake Sale
- OXIG LN : Spectris Ends Offer Talks With Oxford Instruments
- OXY US : Icahn Is Said to Sell Remaining Occidental Stake After 3 Years
- PSM GY : MFE Seeks Authorization to Cross 25% Threshold in ProSieben
- REP SM : *PONTEGADEA INTERESTED IN REPSOL'S RENEWABLES UNIT STAKE: CINCO
- CFR SW : Cartier Owner Richemont Halts Commercial Activities in Russia
- RWE GY : Germany to Build LNG Terminal to Reduce Russian Gas Dependence
- SL IM : Yacht Maker Sanlorenzo Says Russian Clients’ Backlog Below 10%
- SXS LN : Spectris Ends Offer Talks With Oxford Instruments
- TSLA US : Tesla’s German Plant Faces Ramp-Up Delays, Automobilwoche Says
- UBSG SW : UBS Bonus Pool Rises 10% to $3.7B for 2021 From $3.3B for 2020
- UBSG SW : UBS Says Current Direct Exposure to Russia, Ukraine Is ‘Limited’
- ULVR LN : Unilever Pledges New Nutrition Targets After Investor Pressure
- VOW GY : VW to Build $2.2 Billion New EV Car Plant to Keep Up With Tesla
- VOW GY : VW to Invest About EU2B to Build New Trinity Plant in Wolfsburg
- YNDX US : Yandex Self-Driving Group Halts U.S. Ops: Auto News