Stocks and Futures Dives in Deep Red as War Risks Escalates

Asian market ended the week on deep losses as war risks escalated after Russian soldier took hold of the nuclear power plant deemed to be largest in Europe.

The CSI300, HSI, KOSPI, SET and TOPIX is down by 1.21%, 2.50%, 1.22%, 1.44% and 1.96% respectively.

U.S. futures contracts are down with Dow Jones down by 0.63% and S&P by 0.58%.

Europe’s Stoxx 600 benchmark fell nearly 3%, poised for its worst week since March 2020.

Treasuries and gold inched up amid pent up demand for safe heaven assets.
“The market mood is deep red,” said Ipek Ozkardeskaya, senior analyst at Swissquote as reported by Bloomberg.
“European stocks continue feeling the pinch of an escalating war, as the U.S. major indices remain under a decent selling pressure. Investors are unlikely to open or to hold a long position without putting a hedge on it.”
Meanwhile the Russian stock market trading will be closed until at least next Wednesday.
Crude oil maintain historic highs with WTI at $110.26 per barrel while Brent is trading at $112.56 per barrel.