Wall Street falters as Ukraine war drags on
- Date: 13-Mar-2022
- Source: Jordan Times
- Sector:Financial Markets
- Country:Gulf
Wall Street falters as Ukraine war drags on
LONDON — Wall Street ended a downbeat week with further losses on Friday as traders braced for continued economic fallout from Russia's invasion of Ukraine. They were also cautious, keeping in mind a looming Federal Reserve rate hike, though European indices saw gains.
Oil also rose on Iran supply fears, but remained well below the 14-year peak of near $140 hit on Monday brought on by worries of disruptions to supply from Russia, a major producer.
The pound and yen hit multiyear dollar lows before regaining some ground, as traders prepared for the Federal Reserve to most likely hike interest rates next week for the first time since the pandemic, in the first of several moves this year to fight inflation.
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