Wall Street’s main indexes opened lower on Friday as concerns over the intensifying conflict in Ukraine overshadowed data that showed an acceleration in jobs growth last month. The Dow Jones Industrial Average fell 139.23 points, or 0.41 percent, at the open to 33,655.43. The S&P 500 opened lower by 21.37 points, or 0.49 percent, at…
Wall Street Falls at Open as Ukraine Worries Outweigh Strong Jobs Data
Ukraine War Sends Euro Below $1.10 for First Time in Two Years
March 4, 2022
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LONDON—The euro fell on Friday below $1.10 for the first time in almost two years and hit a fresh seven-year low versus the Swiss franc as the war in Ukraine lowered expectations of European economic growth. The European single currency was down 0.8 percent to $1.0967, its weakest level since May 2020, after Russian forces…
Stocks Deepen Week’s Losses as Ukraine Invasion Escalates
LONDON—Stocks extended their losses for the week on Friday as investors piled into government bonds and gold for cover while scrutinizing the latest twists in Russia’s escalating invasion of Ukraine, which included seizing a huge nuclear plant. Industrial metals, grains, and oil gained while Asian shares mined 16-month lows after news of a fire, later…
Ukraine Invasion Hampers Wire Harness Supplies for Carmakers
March 4, 2022
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Carmakers including Germany’s Volkswagen, BMW and Porsche are struggling to obtain crucial wire harnesses as suppliers in western Ukraine have been shuttered by the Russian invasion, forcing them to curtail production. Production of the part, needed for organizing miles of vehicle cables, has affected suppliers like Leoni, Fujikura and Nexans, and rippled through to major…
Germany Opposes Ban on Russian Energy Imports
March 3, 2022
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BERLIN—Germany’s economy minister has spoken out against an embargo on Russian energy imports, saying it could endanger social cohesion in the country. Germany gets about half of its coal and gas from Russia, and a third of its oil. Economy Minister Robert Habeck, who is also Germany’s vice chancellor, said Thursday that his country needs…
Russian Finance Ministry Halts Forex, Gold Purchases for 2022
March 3, 2022
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MOSCOW—Russia’s finance ministry said on Thursday that it was halting purchases of foreign currency and gold for this year as part of a suspension of parts of its fiscal rule relating to the use of extra oil and gas revenues. Under a rule adopted in 2017, Russia buys foreign currency when oil prices are high…
Bangladesh Cargo Ship Hit in Ukraine, Crew Member Killed: Ship Owner
DHAKA—A missile or bomb hit a Bangladeshi-owned cargo ship in the Ukrainian Black Sea port of Olvia, killing one of its crew members, and efforts were underway to rescue the others from the vessel, its owner said on Thursday. “The ship came under attack and one engineer was killed,” Pijush Dutta, executive director of Bangladesh…
Battered Euro Hits Lowest Since 2016 Versus Sterling, Oil Surge Bites
March 3, 2022
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LONDON—The euro slid to its lowest level in almost six years against Britain’s pound and was pinned near 21-month lows versus the dollar on Thursday, as a fresh surge in energy prices heightened worries about the euro area economic outlook. With Brent crude hitting a nine-year high above $119 per barrel, a dash for resources…
Oil Prices Hit Multi-Year Highs as Supply Tightens
LONDON—Benchmark Brent crude oil prices climbed close to $120 a barrel on Thursday, with Russian oil exports disrupted as traders try to avoid becoming entangled in sanctions. Support also came from U.S. crude stockpiles at multi-year lows, helping to lift Brent crude futures as high as $119.84 a barrel for the highest level since 2012….
Global Stocks Mixed After Fed Chair Backs Smaller Rate Hike
March 3, 2022
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BEIJING—Global stock markets were mixed Thursday and oil prices jumped another $5 as Russian forces whose attack on Ukraine has roiled financial markets bombarded the country’s second-largest city and besieged two ports. The economic fallout from the Russian invasion expanded, with Fitch Ratings and Moody’s Ratings cutting Russia’s credit rating. They said the invasion and…
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