Stocks plunge, oil rockets, gold tops $2,000 on Ukraine fears

HONG KONG: Equity markets plunged Monday, while oil prices soared to a near 14-year high and safe-haven gold broke $2,000 as investors grew increasingly fearful about the impact of the Ukraine war on the global economy.Trading floors were a sea of red in early exchanges with experts warning of a period of stagflation with the spike in crude likely to light a fire under already high inflation.The commodity at one point rocketed almost 18 percent to $139.

The surge in crude is giving central banks a headache as they start to tighten pandemic-era monetary policy to fight inflation, which is already at a 40-year high in the United States.The International Monetary Fund warned at the weekend that the war and sanctions on Russia will have a 'severe impact' on the global economy.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Former OFWs invest in ‘ukay-ukay’ business, now earn P300,000 a month - Latest Chika“Pag sumuko ka, talo ka.” This is the lesson that former overseas Filipino workers (OFWs) would like to impart to individuals who want to try their luck in building their own business amid the pandemic. Macx and Edwin Pantaleon put up a computer shop business in Quezon City after resigning from their work in Dubai […]
Source: PhilippineStar - 🏆 7. / 71 Read more »