WASHINGTON—Russia’s invasion of Ukraine will affect the entire global economy by slowing growth and jacking up inflation, and could fundamentally reshape the global economic order in the longer term, the International Monetary Fund (IMF) said on Tuesday. Beyond the human suffering and historic refugee flows, the war is boosting prices for food and energy, fuelling…
Russia’s War in Ukraine May ‘Fundamentally Alter’ Global Economic, Political Order—IMF
March 16, 2022
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Wall Street Surges on Ukraine Peace Talks, Fed on Tap
March 16, 2022
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Wall Street’s main indexes jumped on Wednesday, led by gains in technology and financial stocks, as signs of progress in Ukraine-Russia peace talks lifted sentiment ahead of a widely expected interest rate hike by the Federal Reserve. Ten of the 11 major S&P sectors rose in early trading, with financials up 2.1 percent. Morgan Stanley…
Peace Talks Send Euro Higher, Overshadowing Expected Fed Rate Hike
LONDON—The euro jumped on Wednesday, set for its third consecutive day of gains, after Russian Foreign Minister Sergei Lavrov said peace talks with Ukraine were not easy but there was hope for compromise. In a busy day for markets, a stronger euro and Chinese yuan overshadowed the dollar index, which fell ahead of a Federal…
Oil Falls Below $100 on Russia-Ukraine Talks, Demand Concerns
LONDON—Oil fell below $100 a barrel in a volatile session on Wednesday, as it came under pressure from signs of progress in Russia-Ukraine peace talks and a closely-watched report that cut its forecast of world demand. Ukraine’s president said the positions of Ukraine and Russia were sounding more realistic, but time was needed. Russia’s foreign…
World Stocks Recover on Ukraine Talks, Fed Hopes Buoy US Yields
LONDON/SHANGHAI—World stocks recovered ground on Wednesday as markets watched for signs of light in the Ukraine conflict, while Treasury yields hit their highest since mid-2019 in anticipation of the first U.S. interest rate hike in three years. Chinese stimulus hopes also boosted stocks. Ukrainian President Volodymyr Zelensky said on Wednesday peace talks between Russia and…
Russia to Spend $9 Billion to Rebuild Supply Chains, Prime Minister Says
March 15, 2022
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Russia plans to spend 1 trillion roubles ($9 billion) on so-called anti-crisis measures, Prime Minister Mikhail Mishustin said on Tuesday, as the government tries to partially offset the impact of fresh western sanctions. The plan includes more than 100 proposals and is to be updated, Mishustin said, to rebuild production and supply chains. ($1 =…
Coffee Traders Scramble to Redirect Russia, Ukraine Shipments
March 15, 2022
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LONDON—Coffee traders are scrambling to redirect shipments headed for Russia and Ukraine as trade flows to the two countries collapse due to Western sanctions imposed on Moscow and Kyiv’s move to close its ports. Russia is the world’s fourth-largest coffee importer after the European Union, the United States, and Japan. “(Trade flows) are grinding to…
Wall Street Surges in Broad Rally as Oil Prices Slide; Fed in Focus
Wall Street’s main indexes climbed on Tuesday as oil prices extended declines and data showed a softer-than-expected rise in producer prices, with investors remaining focused on the outcome of the Federal Reserve’s two-day policy meeting. Brent crude fell back below $100 a barrel after scaling as much as $139 last week, providing some relief for…
Oil Plunges Over 7 Percent on Easing Supply Concerns, China COVID-19 Cases
NEW YORK—Oil prices tumbled more than 7 percent to their lowest in almost three weeks on Tuesday as supply disruption fears eased and surging COVID-19 cases in China spurred demand concerns. Brent futures fell $7.89, or 7.4 percent, to $99.01 a barrel by 11:51 a.m. EDT (1551 GMT), while U.S. West Texas Intermediate (WTI) crude…
Russia to Include Electronics Firms on List of Essential Companies—Report
March 14, 2022
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Russia’s trade and finance ministries will widen the criteria for systematically important firms to include companies from the electronics sector, the TASS news agency quoted Deputy Prime Minister Dmitry Chernyshenko as saying on Saturday. Russia’s government on Friday proposed a raft of support measures, including some for suppliers to state-owned companies and the IT sector,…
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