At the beginning of the day, the stock indices of United States They fell by more than 3%. However, they managed to reverse the trend after President Joe Biden’s announcements. The president assured that the United States will apply economic sanctions on Russia, and stressed that Russian President Vladimir Putin “is an aggressor” and that “he chose this war.”
“We are going to apply more sanctions and economic restrictions that are going to have a serious cost on the Russian economy,” Biden said from the White House. “We are going to limit Russia’s ability to do business in the global economy.”
Following the speech, the Nasdaq rebounded as much as 3.3% to close at 13,473.58, while the S&P 500 rose 1.4% to 4,286.10 points. And the Dow Jones rose 0.3% to 33,223.83 points.
“The tough stance that the United States and Europe are taking is sending a strong message to the financial markets that they are going to try to cripple the Russian economy as much as they can,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. .
“From one perspective, that’s positive,” he said, adding that the market sell-off may not be over. “Looking ahead, we’re still subject to probably higher oil prices, probably higher commodity prices.”.
The information technology sector gave the S&P 500 its biggest boost, reversing what had happened on Wednesday.
Europe and Asia
The international stock markets registered strong falls in the main assetswhile oil closed higher in the reference markets due to Russia’s military action against Ukraine.
For its part, the Japanese Nikkei index fell 1.81%; Hong Kong 3.21%; Taiwan 2.55%; South Korea 2.60% and China 1.70% in its Shanghai index and 2.20% in Shenzhen.
In turn, the main European stock markets experienced one of their worst days since March 2020 on Thursday.
The London Stock Exchange’s FTSE index closed down 3.82%, while the Frankfurt DAX fell 3.96%.
The CAC 40 of the Paris floor fell 3.83%, the FTSE MIB of Milan 4.10% and the IBEX 35 of Madrid 2.86%.
Source: Ambito
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