- March 4, 2022
- Posted by: Stratford Team
- Category: Economy
Stock markets fell across Europe and on Wall Street in response to the escalating conflict in Ukraine and its potential to disrupt supplies of vital commodities.
After Russian forces subjected the Ukrainian port of Mariupol to relentless bombardment on Thursday, Europe’s regional Stoxx 600 index dropped 2 per cent, with heavy falls across companies most affected by anticipated higher costs of oil, metals and foodstuffs produced in Russia and Ukraine.
The Stoxx sub-index of utilities groups dropped 3.5 per cent while its tech subsector fell 2.1 per cent to reflect concerns about potential disruption to semiconductor supply chains that involve Ukrainian raw materials. Wall Street’s tech-heavy Nasdaq Composite index dropped 1.1 per cent while the broader-based S&P 500 fell 0.5 per cent.
“We haven’t even seen major disruptions to supply and demand yet,” said Grace Peters, head of European investment strategy at JPMorgan’s private bank….
