Feb 24, 2022
By Jane Brown
Stocks tumbled worldwide Thursday after Russia’s war on Ukraine sent fear coursing through markets and upped the pressure on the high inflation squeezing the economy.
The S&P 500 sank 1.5% to continue its dismal start of the year.
European markets dropped even more, with the German DAX down 4%.
Bond yields fell as investors sought safety and the price of oil soared toward $100 a barrel.
The conflict could send prices spiraling even higher at gasoline pumps and grocery stores everywhere.
Stocks pared their losses through the morning as investors debated whether Russia’s aggression could make the Federal Reserve less aggressive about raising rates.
Investment advisors are urging clients to stay the course. With the combination of geopolitical conflict, rising rates and high inflation, it’s expected stocks will experience higher than normal volatility, but most advise the short term pain is worth it for investors.
(The Associated Press)