BusinessReuters
Stocks slide on Ukraine woes, oil storms back above $100
European stocks tumbled, oil shot back above $100 a barrel and there was a stampede for U.S. and German government bonds on Tuesday as markets struggled with massive uncertainty caused by Russia’s invasion of Ukraine. Russia’s equity markets remained suspended and some bond trading platforms were no longer showing prices, but dealing in the major financial centres both in Europe and in Asia overnight was orderly, albeit jittery. There had initially been gains for mining and oil & gas stocks in Europe but even those had soured and a heavy 4% slump in bank stocks showed investors were now sensing that interest rate hikes might now get delayed or at least scaled down.
