Nasdaq and S&P 500 rebound from early slides
The Nasdaq Composite and S&P 500 are staging a late-day comeback after falling sharply to start the session. Days like these in the stock market are rare, but have become a feature of markets in 2022. The Nasdaq was down 3.5 percent at its low this morning but is now trading higher. In the past 15 years, there have been eight trading days where the index was down at least 3 percent intraday but ended the day higher. One of those sessions occurred in January, when the index fell almost 5 percent and closed up in a stunning reversal. Meanwhile, the S&P 500 was down 2.6 percent at its low early Thursday and is now up roughly 0.3 percent. Though it staged a similar rebound in January, such sessions are unusual and have occurred only 15 times over the past 15 years, according to Dow Jones Market Data. The big intraday reversals can be challenging for traders to navigate. For much of the past year, many individual and institutional investors looked to ride the momentum in certain stocks and indexes higher and higher. The large swings within just hours can make that more difficult.
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Sensex crashes 2500 points
The Sensex and Nifty plunged more than 4 percent and the rupee saw its worst drop in over three months on Thursday, after Russia attacked Ukraine. The NSE Nifty 50 stock index was down 4.60 percent at 16,278.15 and the S&P BSE Sensex was 4.53 percent or 2594 points lower at 54,638.06, after falling as much as 3.6 percent in its steepest drop since mid-April, 2021, according to Reuters. At the day’s low, the Indian stock market was among the worst performers in Asia. The Nifty and the Sensex are set for their seventh day of losses, their worst run since March 2020, the Reuters report said.
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Tokyo’s Nikkei index ends down 1.8pc
Tokyo stocks closed sharply lower on Thursday as fears grew of a full-scale war in eastern Europe after Russian President Vladimir Putin announced a “military operation” in Ukraine. The benchmark Nikkei 225 index fell 1.81 percent or 478.79 points to 25,970.82, while the broader Topix index lost 1.25 percent or 23.50 points to 1,857.58. Putin’s announcement “is prompting further selling” led by investors seeking short-term profits, market strategist Hirofumi Yamamoto of Toyo Securities told AFP during afternoon trade. “But if the situation doesn’t develop into a Russian occupation of the whole of Ukraine, the market probably won’t get worse,” he added.
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France stocks lower at close of trade; CAC 40 unchanged
France stocks were lower after the close on Thursday, as losses in the Foods & Drugs, Gas & Water and General Financial sectors led shares lower. At the close in Paris, the CAC 40 unchanged 0 percent to hit a new 3-months low, while the SBF 120 index declined 3.70 percent. Falling stocks outnumbered advancing ones on the Paris Stock Exchange by 556 to 59 and 41 ended unchanged. Shares in Dassault Aviation SA (PA:AM) unchanged to 52-week highs; unchanged 0 percent or 0 to 112.60. The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was unchanged 0 percent to 18.96 a new 52-week high. Gold Futures for April delivery was up 0.63 percent or 12.05 to $1911.85 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in April rose 3.68 percent or 3.32 to hit $93.53 a barrel, while the May Brent oil contract rose 2.10 percent or 1.95 to trade at $94.94 a barrel.
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European stocks close 3pc lower
European stocks sold off sharply on Thursday after Russia began an attack on Ukraine, tipping a longstanding diplomatic crisis into a military conflict. The pan-European Stoxx 600 closed down more than 3 percent, reaching its lowest point since the start of 2022, with banks plunging over 8 percent to lead losses as all sectors and major bourses slid into negative territory. Germany’s DAX index was among the worst-performing major bourses in Europe, dropping 4 percent. Russia launched an unprecedented invasion of its neighbor Ukraine on Thursday, with military assaults on several key Ukrainian cities including its capital, Kyiv.
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FTSE 100 and pound plunge after Ukraine invasion
Equity markets across the globe nose-dived on Thursday after Russia launched an invasion of Ukraine, with a massive shift to risk-off trade pummelling stocks and benefiting gold prices and the US dollar. Worst hit in London were Russia-exposed stocks, such as Polymetal International and Evraz. Safe haven asset gold advanced as investors turned risk-adverse and oil prices shot up past $100 a barrel as investors brace for the next round of Western sanctions on heavyweight oil exporter Russia. The FTSE 100 index tumbled 291.17 points, or 3.9 percent, to 7,207.01 on Thursday, marking its worst one-day performance since mid-2020. The FTSE 250 ended down 587.08 points, or 2.8 percent, at 20,254.44, and the AIM All-Share closed down 24.29 points, or 2.4 percent, at 1,007.62. The Cboe UK 100 ended down 3.8 percent at 717.38, the Cboe UK 250 closed down 3.1 percent at 18,104.94, and the Cboe Small Companies ended down 2.3 percent at 14,806.01.
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Saudi stocks tumble amid Ukraine-Russia conflict
Saudi stocks tumbled as the trading session started on Thursday amid the Russia-Ukraine conflict. Brent crude crossed $100 for the first time since 2014, rising 6.22 percent to $102.9 as of 10:07 a.m. Saudi time. US benchmark WTI went up to $97.59 a barrel. As of 10:08 a.m. Saudi time, the main index, TASI, slumped 2.42 percent to reach 12,224 points, while the parallel market, Nomu, fell 1.41 percent to 25,052 points. In the financial sector, the Kingdom’s largest valued bank, Al Rajhi Bank, fell 2.52 percent, while Alinma Bank dropped 3.62 percent. Fitaihi Holding Group led the fallers with a decline of 7 percent, while Al-Baha Investment and Development Co. led the gainers with a rise of 6 percent. Aramco, the largest player in the Saudi oil market, slipped 1.36 percent.