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Stocks plunge amid Russia-Ukraine conflict

Global stocks saw a sharp drop as Russia invaded Ukraine

SHARE Stocks plunge amid Russia-Ukraine conflict
Traders gather at a post on the floor.

In this photo provided by the New York Stock Exchange, traders gather at a post on the floor, Thursday, Feb. 24, 2022. Stocks fell worldwide on Thursday after Russia’s attack of Ukraine sent fear coursing through markets and upped the pressure on the high inflation already squeezing the global economy.

Courtney Crow, New York Stock Exchange via Associated Press

After Russian President Vladimir Putin launched an invasion into Ukraine, global stocks plunged.

European stocks saw a crash on Thursday.

  • The Financial Times Stock Exchange in London fell over 3% today, according to Market Watch.
  • France’s CAC 40 also dropped 4.1%.
  • According to CNN Business, Germany’s DAX shed 4.5%.
  • The MOEX Russia Index saw the biggest plummet, dropping more than 50% at one point, according to Bloomberg.

Wall Street also saw a crash.

  • The Nasdaq Composite saw a tumble of 3% this morning, before rebounding from it.
  • The Dow Jones Industrial saw an 800-point drop and continued to plunge even lower, according to Yahoo Finance.
  • The S&P 500 experienced a 1.5% drop before bouncing back.

Meanwhile, gold prices have surged 2.1%, achieving a one-year high, as Herb Scribner wrote for The Deseret News.

What to expect?

Volatility in the stock market is relatively common, especially during world events like the Ukraine-Russia conflict, per CNBC.

“Embrace the volatility, because it’s why investors are getting paid to own stocks,” said certified financial planner Brad Lineberger, president of Seaside Wealth Management in Carlsbad, California.

“Stocks are going to struggle to find direction until financial markets have a clear answer on whether the Russia-Ukraine crisis will have a diplomatic solution or regional warfare,” said Edward Moya, senior market analyst for Oanda, per Forbes.

“The Ukraine situation seems to be heading towards a pivotal moment … and that means oil prices could surge,” he said.