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Shell a lone bright spot as European stocks tumble, energy prices soar on Russia-Ukraine tensions

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Rattled by fresh tensions on the Russia-Ukraine front, European stocks tracked global equity losses.

European stocks tumbled Tuesday, in step with a global selloff as Ukraine-Russia tensions ratcheted up, driving up energy prices and the stocks of related companies, such as Shell and BP.

Hopes for a diplomatic solution were fading and fears of a Ukraine invasion rising after Russian President Vladimir Putin on Monday ordered troops into separatist regions of that country and said he would recognize their independence. Hurting even worse was the German DAX DAX , down nearly 2%, due to the country’s heavy dependence on Russian gas. The French CAC 40 PX1 was off 1.4% and the FTSE 100 UKX fell close to 1%.

 

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