Stocks finish lower on Ukraine fears
Secretary of State John Kerry arriving in Kiev today. Buying Opportunity The Ukraine news is troubling, but there are always global risks and short-term fluctuations because of these risks, Karyn Cavanaugh , a market strategist at ING U.S.Investment Management in New York, said in a phone interview. Her firm oversees about $200 billion. I see this being short-term unless it escalates. If we do see some market gyrations and volatility, it could be a buying opportunity. The geopolitical tension comes after the S&P 500 rose 4.3 percent in February, the most since October, to end the month at a record 1,859.45.
US STOCKS-Wall St slides as Ukraine tensions escalate
Bond prices and yields move in opposite directions. The price of oil is also up, with crude prices rising by almost 2% to more than $104 per barrel. “Russia’s involvement clearly magnifies the scope for contagion and increases the possibility that global energy prices will be affected both directly and indirectly,” wrote Stephanie Flanders, chief European market strategist for JPMorgan asset management in London. The tension also triggered a spike in wheat and corn prices, as Ukraine is a leading exporter of both grains.
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Elsewhere across Europe bourses moved sharply lower. Britains FTSE 100 index was trading 1.5% lower to 6,708.35 and Germanys DAX index dropped 3.4% to 9,358.89. Frances CAC 40 was down 2.7% to 4,290.87. Tokyos Nikkei 225 index dropped 1.3% to 14,652.23 on Monday in Japan and Hong Kongs Hang Seng declined 1.5% to 22,500.67. Global markets are on edge after Russias move into Ukraines Russian-speaking Crimea injected a major bout of uncertainty into markets and raised fears of the conflict broadening.
Stocks fall on chaos in Ukraine
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US STOCKS-Wall St sells off as Ukraine-Russia tension rises
I think this will happen over time. The fund also has to show it is independent from politicians. Diversify Assets The Topix index sank 8.1 percent this year through yesterday, the biggest slump among 24 developed markets tracked by Bloomberg. Investors are questioning whether the Japanese premier can follow the first two parts of his Abenomics growth strategy — monetary easing and fiscal stimulus — with reforms needed to make the economic recovery sustainable. GPIF must find a way to manage its money flexibly as well as broaden investments, Abe said to parliament on Feb.
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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. ” Direct costs of war to Russia could reach at least 3% of GDP , which consists of nearly half (or about $30 billion) of gas exports from Russia to Europe, which is carried out through Ukraine and which would most likely be disrupted in case of a war,” said Vladimir Osakovskiy, an economist at BofA Merrill Lynch. Credit Suisse’s Alexander Redman and Arun Sai note that Russia could also get hit with economic sanctions while risking getting effectively shut out of the global capital markets. Meanwhile, there were lots of economic data coming out in the U.S. and abroad.
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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. The Nasdaq Composite dropped 58.584 points or 1.36 percent, to 4,249.534.
The index found some support when it fell to 1,840, but broke below it after the first what stock to buy now attempt. The S&P 500 extended losses in early afternoon trading and then recovered slightly to close above the support level. “It’s too early to tell whether this would be a buying opportunity because we need to see how this (tension between Ukraine and Russia) plays out. It depends on how far this escalates, but I would suggest hedging before making any bets at this point,” said Randy Frederick, managing director of active trading and derivatives for Charles Schwab in Austin, Texas. The CBOE Volatility Index, also known as the VIX, shot up 14.29 percent, its biggest one-day jump in a month, to end at 16.