Global stocks tumble as Ukraine tensions mount

Global stocks tumble as Ukraine tensions mount

Stocks















Bloomberg

Stocks fell around the world as geopolitical risks over Ukraine rippled through global markets, adding to concerns about inflation and the prospect of aggressive Federal Reserve interest-rate hikes to tame it.

US futures dropped, with airlines sliding in premarket trading as Ukraine tensions hit travel stocks and companies exposed to Russia and eastern Europe were under pressure. Expensive growth stocks, which stand to suffer the most from higher interest rates, also fell.

Meanwhile, banks were among the biggest declines

in Europe, surrendering their place as the region’s best-

performing sector of 2022 to energy.

European natural gas prices jumped and oil fluctuated, while government bonds surged and haven currencies outperformed.

Tensions over Russia’s military buildup near Ukraine are entering a potentially decisive week as the US warns an invasion may be imminent and President Vladimir Putin accuses America of failing to meet his demands.

Russia has repeatedly denied it plans to invade its neighbour, and a diplomatic push to try

to resolve the situation is continuing, with German Chancellor Olaf Scholz travelling to Kyiv, a day before heading to Moscow.

A deterioration in Ukraine could stoke concerns about price pressures if supplies of Russian