Russia-Ukraine Tensions: Investors Suffer Loss As Stocks Plunge, Oil Prices Surge
Investors in the global stock markets suffered losses on Tuesday after Russian President Vladimir Putin ordered troops to move into Donetsk and Luhansk in Eastern Ukraine.
Naija News understands that the stock market fell, oil prices surged with Brent crude rising up to $94 per barrel amid concerns that Russia’s energy exports could be disrupted following the news.
According to Forbes, shares of Home Depot fell over 5.5 per cent after earnings, while Macy’s gained over 8 per cent thanks to strong results as well as the announcement of a share buyback and dividend increase.
The tensions between Russia and Ukraine have continued to weigh on markets, with all three major averages recently posting back-to-back weekly losses.
It was learned that the Dow fell 1.9 per cent last week, while the S&P 500 lost 1.6 per cent and the Nasdaq 1.8 percent.
Following the order by the Russian President, the West, the European Union and the United Kingdom both have condemned the move and announced economic sanctions against Russia on Tuesday.
Also, the United States also unveiled sanctions targeting Russia’s elite, banks and sovereign debt, while western officials continued to warn that Russian troops moving into eastern Ukraine to keep the peace could be a not so subtle pretext for a full invasion.
This article was originally published on Nigeria News
