U.S. stock futures sold off and oil prices topped $100 a barrel for the first time since 2014 as investors sought refuge.
Dow stock futures fell roughly 800 points late Wednesday as investors pulled back amid concerns a prolonged conflict could push up energy prices, add to inflationary pressures and slow economic growth. They regained a bit of footing early Thursday and were down roughly 600 points. S&P 500 futures dropped 1.5% and tech-heavy Nasdaq contracts sank 2%. Asia-Pacific stocks also sold off, with markets in Hong Kong and Sydney sliding 3%, while Tokyo and Seoul sank 2%.
A Ukrainian government spokesperson said early Thursday that"cruise and ballistic missile strikes are underway at the control centers" in Kyiv. and provides about 40% of gas to the European Union. Most of that fuel is delivered through pipelines, including in Ukraine, according to Eurasia Group.after Russian President Vladimir Putin sent military forces into Ukraine's eastern breakaway regions. Experts now predict the U.S. and EU will respond to the latest hostilities with stiffer economic sanctions, potentially inviting Russia to respond with its own measures.
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