In One Chart: Global financial markets have had a rough time since Russia’s invasion of Ukraine, but it is not over yet

by | Feb 24, 2023 | Stock Market

A year after Russia invaded Ukraine and set off the bloodiest conflict in Europe since World War II, global financial markets seem to no longer carry on the lasting shocks on a daily basis, but the full consequences and implications are yet to come, said a strategist at Deutsche Bank.  U.S. stocks tumbled on Feb. 24, 2022, with the Dow Jones Industrial Average
opening down more than 700 points, or 2.2%, while the large-cap index S&P 500
slumped 1.8%, hours after Russian President Vladimir Putin announced the military action. Meanwhile, oil prices rallied with the U.S. benchmark West Texas Intermediate crude


rising to $100 a barrel on the New York Mercantile Exchange for the first time since 2014.

See: What Russia’s invasion of Ukraine means for markets a year later As of Friday, the Dow industrials were slightly lower from a year ago after tumbling for most of 2022 and bouncing off October lows in early 2023. The S&P 500 slumped 7.4% in the past 12 months, while the Nasdaq dropped 15.5%, according to Dow Jones Market Data.  Meanwhile, bonds wrapped up their worst year on record in 2022. Instead of holding up as stocks tumble, almost every type of bond — from the U.S. and European government bonds to top-rated corporate bonds — posted double-digit losses in the past year. A steep U.S. Treasury selloff sent yields soaring, with the yield on the 2-year note
rising 3.67 percentage points for the year, while the 10-year yield
jumped 2.33 percentage points, the largest on record based on data going back to 1977, according to Dow …

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