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Wall Street Lowers with Ukraine crisis

The Standard & Poor’s 500 index fell 0.4% as investors weighed concern over Russian forces massing on the border of Ukraine. (Associated Press)

Wall Street Lowers with Ukraine crisis
Photo by Aditya Vyas

Financial Investment hub Wall Street is facing the heat of the ongoing Russia-Ukraine crisis, and numbers speak for this. The New York city’s lower Manhattan-based investment zone ended at a low on Friday as investors are looking to the Russia-Ukraine crisis with rising tensions between the two countries.

Civilians in Ukraine are getting boarded on buses and getting out of breakaway regions of Ukraine, as believed to be done by Russian-backed separatists to use as justification as West believes.

With the ongoing crisis in the business world with regular falls in shares and rising oil prices, Federal Reserve’s next move is speculated to equities. New York Fed Bank President John Williams mentioned it appropriate to hike interest rates in March without any mention of magnitude. Terming Wall Street and other businesses as confused market, Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York says that no one is sure in this crisis how Fed bank will respond even ignoring their strong earnings of the fourth quarter.

Monthly options contracts expiration also added volatility ahead of the US market holiday on President’s day.

Wall Street Lowers with Ukraine crisis
Photo by Tumisu

In the fell, Dow Jones average fell 0.68% to end at 34,079.18 points, while S&P 500 fell to 0.72% down to 4348.87, The Nasdaq fell to 1.23% to 13548. These indexes’ weekly decline is reported for the second straight week, because of the rising tensions between Moscow and the West over Ukraine. For the week, S & P 500 tumbled 1.6%, the Dow fell 1.9% and the Nasdaq fell to 1.8%.

Intel corp tumbled to lowest since 2020 at 5.3% after chipmaker company failed to impress investors who are worried about their loss in the market share.

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78% of the 417 S&P 500 companies in the reporting season earned quarterly earnings above analyst estimates as per the data.

Roku Inc tumbled with a fell of 22% after disappointing quarterly revenue of the streaming platform.

Draft Kings also fall 22% after the sports betting company forecasted a bigger than the actual 2022 loss.

The US said Russia has bordered Ukraine from all sides with a massed number of troops that count more than 2 lakhs and added 7000 more as satellites show and President Biden accusing Russia that it can invade Ukraine anytime that will result in a big blow to both the economy and humanity, while Russia claiming that it has pulled back partial troops from Ukraine’s borders and claimed that it will not attack first from its side on Ukraine.

With all these speculations and rising tensions, one thing is clear that all investors are eyeing towards Ukraine crisis because this is what affects their businesses badly.

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With regular stocks dropped and climbing bonds, investors are jittery with things that can become worse in the next few days between Russia and Ukraine, and another worry to investors is of the next step of Federal Reserve for Wall street businesses and other markets.

With continued loss and fall for the last one week, it is a jittery week and can continue long for the investors.

Written By

Hemant is a News Analyst and Author at Empire Weekly. He is currently pursuing his MBA from IIM Kashipur. He did his graduation from Nift Kolkata. He has done 4 live projects in the digital marketing domain. He also worked as an executive member in the photography club at IIM Kashipur. His interests are reading, writing content, watching movies, wondering, and many more.

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