NEW YORK (AP) — Shares tumbled worldwide Thursday after Russia’s assault of Ukraine despatched worry coursing by means of markets and upped the stress on the excessive inflation squeezing the financial system.
The S&P 500 sank 1.5% to proceed its dismal begin of the yr. European markets dropped much more, with the German DAX down 4%. Bond yields fell as traders sought security and the value of oil soared towards $100 a barrel.
The battle might ship costs spiraling even larger at gasoline pumps and grocery shops all over the place.
Shares pared their losses by means of the morning as traders debated whether or not Russia’s aggression might make the Federal Reserve much less aggressive about elevating charges.
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