It’s been a busy day trading as traders digest the latest news from across the globe. Here’s a summary of the major news from across the markets today:
Markets Slide as Hopes for Peace Deal Fade
The markets slid today as hopes of a Ukraine-Russia peace deal faded. The S&P 500 opened marginally down, around 10 points, as Moscow dampened any hopes of an imminent peace deal. Falls in the US index were accompanied by a drop in the DAX (down 1.61%) and CAC (down 1.21%).
The FTSE 100 was in positive territory however (up 0.36%), led by oil majors who benefited from a rise in the price of oil as the war in Ukraine continues.
Elsewhere, worries about inflation and interest rates continue to dominate financial thinking. Inflation in Germany hit a 41-year high as fears over potential gas rationing take hold. There are concerns Russia could cut off supplies, with Germany due to make payment tomorrow, which Russia is insisting must be made in roubles.
In the US, today’s jobs report came in roughly where expected, with 455,000 jobs added this month. GDP was strong at 6.9% for the quarter, although slightly below expectations of 7%.
Tech Stocks Fall
Major tech stocks fell in early trading, with Apple (AAPL) -0.72%, Meta (FB) -0.87%, Amazon (AMZN) -1.83% and Alphabet (GOOGL) -0.46% all down amid the wider market selloff.
Tesla (TSLA) meanwhile was marginally up 0.12% as it maintained some momentum from news of its upcoming stock split announced earlier in the week.
There wasn’t much positive news in the world of cryptocurrency either as a number of the major coins fell over the last 24 hours. Bitcoin (BTC) fell -1.54% to $47,051 whilst Ethereum dropped -2.24% to $3,368. The two biggest cryptocurrencies are both up by more than 10% over the last seven days however.
One of the few gainers over the last 24 hours has been Solana (SOL), which gained 5.15% to $120.19 as it extended its gains over the last week to over 24%.
Gold in the Green
Gold was in positive territory for the day, up 0.85% to $1936 as it continues its strong run this year on the back of rising inflation and the conflict in Ukraine.
The “black gold” also saw a jump today, with US Crude up 2.84% to $106.50 as investors weigh up the latest peace negotiations between Russia and the Ukraine.
* Please note all figures are correct at the time of writing. Data collected from third-party sources. Nothing in this market update is intended as advice or recommendations and is for information purposes only.