NEW YORK – Global markets fell sharply again Monday morning, on the back of Uncertainty about how much oil will rise and how sanctions will be imposed on Russia for its invasion Ukraine.
As stocks fell, investors turned to gold, while the Russian ruble fell to the point where it was worth less than a penny in the United States.
The S&P 500 fell 1% in the morning after several Western countries took measures to isolate some banks from a major international payment system. The US Treasury He also announced new sanctions to paralyze any assets owned by the Russian Central Bank in the United States or in the hands of Americans.
The United States announced that Germany, France, Britain, Italy, Japan, the European Union and other countries would take similar measures against the Russian Central Bank, which announced the closure of the Moscow Stock Exchange on Monday.
Oil prices on both sides of the Atlantic are up more than 3% amid uncertainty over what will happen to oil production because Russia is one of the major producers.
Prices of natural gas, wheat and other raw materials have also risen, exacerbating inflationary pressures that were already undermining the purchasing power of millions of people around the world.
In pursuit of steadier profits, many investors bought US government bonds, lowering the 10-year yield by 0.10 percentage point to 1.88%.
In Europe, the German index fell 2.2%, the French CAC 40 lost 2.8% and the British FTSE 100 lost 1.3%.
In the US, the Dow Jones Industrial Average lost 386 units (1.1%) to settle at 33,672 and the Nasdaq Technology Index lost 0.9%.