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You can see other videos from our team by tapping here. Try refreshing your browser, or stock market plunge, Nasdaq nears bear market in 'darkest hours of Europe since World War II. Stock markets around the globe fell, oil prices broke above US $100 a barrel, while safe havens gold and government bonds surged in the flight to safety. Russian forces invaded Ukraine by land, air and sea, confirming the worst fears of the West with the biggest attack by one state against another in Europe since World War Two. The United States and its allies promised tough sanctions against Russia in response.
Ukraine s President Volodymur Zelenskiy said that Kremlin leader Vladimir Putin's aim was to destroy his state. Putin has launched a full-scale invasion of Ukraine. Ukrainian cities are under strikes, foreign minister Dmytro Kuleba said on Twitter. The world can stop Putin. These are the darkest hours of Europe since the Second World War, according to Josep Borrell, EU foreign affairs chief. Russian forces attacked targets across Ukraine after Putin ordered an operation to demilitarize the country. Putin said Russia doesn't plan to occupy its neighbour but that action was necessary after the U.S. and its allies crossed Russia's red line by expanding the NATO alliance. Military vehicles entered the Kyiv region that borders Belarus, Ukraine's Border Guard Service said in a statement. Crude and European natural gas surged on potential risks to Russian energy exports, with Brent futures trading as high as $105 a barrel and the benchmark West Texas Intermediate crossing $100.
The U.S. 10 year Treasury yield fell 14 basis points to under 1.9 per cent on the flight to safety. Since September 2020, gold has hit the highest level since. The futures tracking the Nasdaq 100 fell by 2.6 per cent. If the losses go well, the index could confirm bear market territory, or a 20 per cent decline from its November record closing high. The Dow futures indicated that the blue-chip index was poised to confirm a correction from its all-time closing high on January 4. A correction is made when an index falls below its record closing level by 10 per cent or more. The CBOE Volatility Index, also known as Wall Street's fear gauge, was last traded at 36.41, its highest since January 24. Craig Erlam, a senior market analyst at OANDA said that the sentiment is in the dumps.
It is not a shock response because this has been building for weeks, but it is the realization that diplomacy has failed. Dow e-minis were down 682 points, or 2.06 per cent, S&P 500 e-minis were down 83.5 points, or 1.98 per cent, and Nasdaq 100 e-minis fell by 347.5 points, or 2.57 per cent. Markets slashed their bets on rate increases by the Federal Reserve in 2022, with about six 25 basis-point hikes expected. Wagers of five by the Bank of England and one by the European Central Bank by the end of the year stayed in line with what was priced in before the attack on Ukraine. Investors are worried that Fed tightening could choke the expansion of the world's largest economy. If the conflict continues, the market will have to take into account an economic slowdown with the stagflation scare, said Alberto Tocchio, portfolio manager at Kairos Partners. The price of cryptocurrencies fell to around $35,000 because of risk aversion. The most speculative areas of markets were worst-hit, as the second-largest token Ether suffered heavy losses. As a strategist at IG Asia Pte, Jun Rong Yeap said that Russia will spur more risk-off moves into safe-haven assets, since the situation will remain volatile with retaliation measures coming from Western powers.