The effect of tension in Russia and Ukraine is beginning to be visible on the world economy. If we talk about the last 24 hours, after the Russian army entered Ukraine, most of the world’s stock markets collapsed. On the other hand, there is a huge rise in crude oil and gold.
Huge fall in stock markets: Selling is being seen in most of the stock markets of the world. After the Russian attack, the US’s Dow Jones slipped 1.38 per cent till 4 pm Indian time, the European country Germany’s DAX 4.64 per cent, France’s CAC 4.6 per cent and the UK’s FTSE 100 fell by 3 per cent. At the same time, the biggest fall of 10.8 in Europe happened in Poland’s stock market.
Selling dominated the Indian stock market as well. By the close of the market on 23 February 2022, the Sensex fell by 4.72 per cent and the Nifty by 4.78 per cent.
Up to 50% decisions Russian stock market: Russia’s stock market fell sharply due to fear of sanctions after the attack on Ukraine. At 2 pm, the Russian stock market’s important index RTS (RTS) index was down 50 percent at 612.69 points and MOEX was down 44.59 percent at 1,226 points. Due to excessive selling in the Russian stock market today, trading had to be closed for 2 hours.
Crude oil crosses $100Russia is the third largest producer of crude oil in the world. In such a situation, Russia’s participation in the war will reduce the supply of crude oil in the world. For this reason, on Thursday, the prices of Brent crude rose by 8 percent to reach near $ 101 a barrel. Due to which the risk of inflation has increased once again in the world.
rise in gold pricesThe impact of the confrontation between Ukraine and Russia has also shown on the prices of gold. After Putin announced the launch of military action in Ukraine, the price of gold in April contract jumped 3.2 percent to reach $ 1972.