Though Wall Street ended higher on Friday with major indices up between 1.5 per cent – 2.5 per cent, analysts expected markets to come under selling pressure on Monday.
Russian military vehicles pushed into Ukraine’s second-largest city on Sunday and explosions rocked oil and gas installations on a fourth day of the biggest assault on a European state since World War Two. The Russian invasion comes at a time when investors are already worried about expensive market valuations and hawkish central banks with world stocks falling to a 10-month low on Thursday and down more than 7 per cent so far this year.
Hedge funds cut long bets on the British pound while yen short positions were slashed, according to data from Commodity Futures Trading Commission. Separate data from Goldman Sachs showed outflows from European-focused equity funds while flows into developed market equities fell into negative territory.
No pain, no gain
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