Asia stocks mixed after Wall St falls, US bans Russian oil

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Asian stocks rebound, oil continues to climb after Biden bans imports of Russian crude

Asian stocks rebounded Wednesday after Wall Street declined and Chinese inflation edged higher.

Wall Street’s benchmark S&P 500 index sank 0.7 per cent amid enduring unease over the impact of Russian President Vladimir Putin’s attack on Ukraine. The increase was smaller than in recent months but inflation is likely to surge again given rising global prices for energy and other manufacturing inputs, analysts said.

Benchmark U.S. crude rose $2.41 to $126.11 per barrel in electronic trading on the New York Mercantile Exchange. The contract jumped $4.30 on Tuesday to $123.70. Nickel prices doubled Tuesday to more than $100,000 per metric ton, prompting the London Metal Exchange to suspend trading. The Dow Jones Industrial Average lost 0.6 per cent to 32,632.64. The Nasdaq composite retreated 0.3 per cent to 12,795.55. On Monday, it closed 20 per cent below its record high.

 

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