Global Stocks Fall on Ukraine Unrest
U.S. Secretary of State John Kerry is traveling to Ukraine and the United Nations Security Council is set to meet as western leaders seek to respond to Russia seizing control of the countrys Crimea region. Ukraine said Russias navy ordered two of its ships to surrender. Russias central bank unexpectedly raised its key interest rate by 150 basis points. Manufacturing gauges in China signaled slower growth, while U.S.
The MICEX index of Moscow stocks tumbled 11 percent to 1,288.81. The dollar-denominated RTS stock index tumbled 12 percent. The Market Vectors Russia ETF fell 7 percent in heavy volume, hitting a session low of $22.16, its lowest in 4-1/2 years. Energy stocks could lose if relations between the United States and Russia deteriorate further.
Global stocks slide as tensions build in Ukraine
First, the scoreboard: S&P 500: 1,845.7 (-13.7, -0.7%) Nasdaq: 4,277.3 (-30.8, -0.7%) And now the top stories: Markets around the world got slammed. Russia got hit the worst with its ruble tanking and its stock market dropping 12% . The Ukranian bond market got annihilated, with short-term interest rates exploding to nearly 50% . Western Europe also got slammed, led by Germany, a major importer of Russian gas . With the Russian economy already struggling to grow, most Wall Street experts believe Putin isn’t like to go through with a major military action.
US STOCKS-Wall Street falls on Ukraine tensions
General Electric Co. and 3M Co. plunged at least 1.6 percent to pace declines among large industrial shares. The Market Vectors Russia ETF tracking companies from Gazprom OAO to OAO Lukoil dropped 7.6 percent, the most since 2011.
US STOCKS-Wall St slides as Ukraine tensions escalate
crude prices rose more than 2 percent each. The S&P energy sector index, which opened higher, was down 0.6 percent. The Dow Jones industrial average fell 207.75 points or 1.27 percent, to 16,113.96. The S&P 500 lost 19.45 points or 1.05 percent, to 1,840.
STOCKS AROUND THE WORLD GET SLAMMED: Here’s What You Need To Know
of Saskatchewan Inc. U.S.: NYSE $33.50 +0.21 +0.63% March 3, 2014 4:02 pm Volume (Delayed 15m) : 5.87M AFTER HOURS $33.61 +0.11 +0.33% March 3, 2014 6:54 pm Volume (Delayed 15m): 8,275 P/E Ratio 15.86 Market Cap $31.20 Billion Dividend Yield 4.18% Rev. per Employee $1,302,470 01/30/14 Potash Corp. profit tumbles 45… More quote details and news POT in Your Value Your Change Short position gained 53 cents, or 1.5%, to 37.13.
Stocks Drop Most in Month as Crimea Fans Bond Gains; Corn Soars
were also hit hard. Mechel, a mining company, fell 18 cents, or 9.5 percent, to $1.72; Phone company VimpelCom fell 51 cents, or 5 percent, to $9.65. Energy company LukOil best performing stock fell $3.20, or 5.9 percent, to $51.20. The drop in stocks might also present investors with the opportunity to buy stocks at lower prices, said Terry Sandven, chief equity strategist for U.S. Bank.