Post by Mya on Feb 17, 2022 8:39:32 GMT
New York (CNN Business)The stock market gave investors whiplash Monday as Wall Street tried to predict the next events in a rapidly evolving and tumultuous conflict between Russia and Ukraine.
US stocks fell on Monday after the United States said it would close the US embassy in Kyiv. US officials are "temporarily relocating" the small number of remaining diplomatic personnel to Lviv, a city in the west of the country, "due to the dramatic acceleration in the buildup of Russian forces," Secretary of State Antony Blinken announced Monday.
That spooked Wall Street, which fears war in Eastern Europe could be imminent.
In addition to the potential for large-scale loss of human life, investors fear a prolonged war between Russia and Ukraine could damage the global economy. Russia remains one of the world's leading energy exporters, and a war could cut off supply of its natural gas and oil to other countries that depend on it. That could send prices surging at a time when much of the world is already coping with sky-high inflation.
the Dow (INDU) fell 172 points, or 0.5%, on Monday. The broader S&P 500 (SPX) also fell 0.4%, and the Nasdaq (COMP) was unchanged.
www.cnn.com/2022/02/14/investing/dow-stock-market-today/index.html
US stocks fell on Monday after the United States said it would close the US embassy in Kyiv. US officials are "temporarily relocating" the small number of remaining diplomatic personnel to Lviv, a city in the west of the country, "due to the dramatic acceleration in the buildup of Russian forces," Secretary of State Antony Blinken announced Monday.
That spooked Wall Street, which fears war in Eastern Europe could be imminent.
In addition to the potential for large-scale loss of human life, investors fear a prolonged war between Russia and Ukraine could damage the global economy. Russia remains one of the world's leading energy exporters, and a war could cut off supply of its natural gas and oil to other countries that depend on it. That could send prices surging at a time when much of the world is already coping with sky-high inflation.
the Dow (INDU) fell 172 points, or 0.5%, on Monday. The broader S&P 500 (SPX) also fell 0.4%, and the Nasdaq (COMP) was unchanged.
www.cnn.com/2022/02/14/investing/dow-stock-market-today/index.html