This day Russia warned the inhabitants of Kiev to flee their homes and launched a barrage of rockets on the city of Kharkov. As Russian commanders intensified their bombardment of urban areas in a change of tactics after their six-day assault stalled.
The escalation of the war led to inflation expectations rising on concerns that prices will rise as the West imposes sanctions on Russia.
Also this Tuesday US Treasury bond yields fell to eight-week lowsas Russia’s attack on Ukraine intensified, boosting demand for safe-haven debt, and due to concerns that rising commodity prices would weigh on growth.
Oil prices rose 9%as a global deal to release crude stockpiles failed to allay fears of a supply disruption.
For their part, the European stock markets fell sharply again: the DAX in Frankfurt lost 3.85%, the Cac 40 in Paris 3.94%, the FSE 100 in London 1.72%, the FTSE MIB in Milan lost 4 .14% and the Madrid Ibex 35 3.94%.
“European stock indices continue to be under negative pressure due to the war,” commented SwissQuote analyst Ipek Ozkardeskaya, according to the AFP agency.
For their part, grain prices continued their upward trend in the Chicago market, with increases of US$27 in wheat, more than US$22 in soybeans and almost US$17 in corn.
“The business world builds a fortress to isolate Russia from the international community”commented analyst Susannah Streeter, adding that companies around the world respond “freezing transactions with Moscow and abandoning its financial investments worth billions.”
Source: Ambito
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