HomeFinanceWall Street's main indexes fall sharply on Mon. as oil prices spike

Wall Street's main indexes fall sharply on Mon. as oil prices spike


고유가 인한 침체 공포에 ‘검은 월요일’…글로벌 금융시장 출렁

Wall Street’s main indexes fell sharply on Monday… as oil prices soar amid the conflict in Ukraine.
The Dow Jones confirmed it was in a correction, the tech-heavy Nasdaq is now in a ‘bear market’, and the S&P 500 marked its biggest one-day decline in more than a year.
Bae Eun-ji reports.
Global shares tumbled as Russia’s invasion of Ukraine has led to expectations of a spike in prices of energy and raw materials.
The Dow Jones Industrial Average slid more than 2-percent on Monday, falling almost 800 points.
It ended down more than 10-percent from its closing record high on January 4th,… confirming it was in a ‘correction’.
A correction is confirmed when an index closes 10-percent or more below its record closing level.
The index last entered a correction in February 2020.
The Nasdaq on Monday sank 3-point-6 percent.
It ended down 20-percent from its record high close on November 19th,… meaning that the tech-heavy index has also fallen into a so-called “bear market”.
This marks the Nasdaq’s first bear market since March 2020, when the pandemic crushed global economies.
The S&P 500 fell almost 3-percent, marking its biggest single-day decline since October 2020.
The sharp stock market fall came as oil prices spiked, with WTI crude hitting a 13-year-high of 130 dollars a barrel overnight… on early Monday.
This spike followed U.S. Secretary of State Antony Blinken saying on Sunday that Washington and its allies are eyeing a ban on Russian oil and natural gas imports,… for its actions against Ukraine.
The U.S. gets around 8-percent of its oil imports from Russia, but there are increasing calls to cut off Moscow from the money it gets from oil and natural gas exports.
Bae Eun-ji, Arirang News.

#WallStreet #oil_price #Economy

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2022-03-08, 12:00 (KST)

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