Global markets stabilize as Russian invasion threat continues
Global markets stabilized on Friday after the Dow had its worst day of 2022 due to the threat of Russian invasion in Ukraine. Australia’s S&P/ASX 200 closed down 1% and Japan’s benchmark Nikkei closed down 0.4%. Shanghai Composite Index gained 7% and Hong Kong’s Hang Seng dropped 1.9% after the open. London’s FTSE 100 and France’s CAC 40 rose 0.2% and Germany’s DAX also rose 0.1%.
These moves occurred after Thursday where the Dow plummeted 1.8%, or 622 points. This was the lowest level of the year for the Dow. The S&P 500 dropped 2.1% and Nasdaq dropped 2.9%, causing all three indices to be in the red for the week. Market watchers are nervous about military conflict between Russia and Ukraine and what it could mean for the global economy, especially if the United States and major countries in Europe become involved. On Friday, the US futures pointed up with the Dow rising 0.6%, S&P 500 0;.7%, and Nasdaq 0.8%.