Business & Economy

Stocks Dive, Oil Jumps Above $100 As Russia Invades Ukraine

Published

3 years ago

Feb 24, 2022.

Stock market crashes over 45% as Russia invades Ukraine
The United States benchmark, the West Texas Intermediate (WTI) just hit a $100 per barrel mark, for the first time since July 2014, as Russian President, Vladimir Putin authorized a special military operation on Ukraine.

EKO HOT BLOG reports that Russia’s stock markets crashed at the start of the trading session on Thursday after Russian President, Vladimir Putin launched a special military operation on Ukraine.

The benchmark index, the MOEX index, which is the index comprising leading Russian shares, which opened Thursday’s trading session at 3,084.74 basis points, is currently trading at 1,681.55 basis points, representing a decline of approximately 45.50% as of the time of this writing, according to Bloomberg.

The crash came as investors are reacting to Western governments’ promised unprecedented sanctions in response to President Vladimir Putin’s shock announcement that Russia had launched military action against Ukraine.

Meanwhile, the United States’ benchmark, the West Texas Intermediate (WTI) just hit a $100 per barrel mark, for the first time since July 2014, as Russian President, Vladimir Putin authorized a special military operation on Ukraine.

The WTI is up over 8% as of the time of this writing.

This online media platform reported that Russian forces invaded Ukraine by land, air and sea on Thursday, confirming the worst fears of the West with the biggest attack by one state against another in Europe since World War Two.

Russian missiles rained down on Ukrainian cities. The nation reported columns of troops pouring across its borders into the eastern Chernihiv, Kharkiv and Luhansk regions, and landing by sea at the port cities of Odessa and Mariupol in the south.

Explosions could be heard before dawn in the capital Kyiv. Gunfire rattled, sirens blared across the city and the highway out became choked with traffic as residents tried to flee.

Ukraine’s President Volodymyr Zelenskiy said Kremlin leader Vladimir Putin’s aim was to destroy his state.

“Putin has just launched a full-scale invasion of Ukraine. Peaceful Ukrainian cities are under strikes,” Ukrainian Foreign Minister Dmytro Kuleba said on Twitter.

“This is a war of aggression. Ukraine will defend itself and will win. The world can and must stop Putin. The time to act is now.”

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