New York (AFP) – 12/02/2022. 06:33
Oil prices rise and US stocks fall on fears of a Russian invasion of Ukraine
- Oil prices rose and US stocks fell Friday afternoon local time as the White House urged Americans to leave Ukraine
- Markets reacted during a press conference of US National Security Adviser Jake Sullivan, who said that a Russian attack on Ukraine “could happen at any time.”
Oil prices rose and US stocks fell on Friday afternoon local time, while urging White House The Americans are urged to leave Ukraine immediately due to the rising possibility of a Russian invasion.
The markets interacted during a press conference of the US National Security Adviser, Jake Sullivan, who said that Russia’s attack on… Ukraine “It could happen at any time,” even during the Winter Olympics currently underway in Beijing.
At around 19:15 GMT, the “S&P” index fell 1.5 percent to 4,438.89 points. As for the price of West Texas Intermediate crude, it rose by about 4% to reach $93.48 a barrel.
The shares of arms production companies also rose, including Lockheed Martin and Northrop Grumman, whose shares rose by 2.8% and 4.1%, respectively.
Investors’ fears of an imminent Russian invasion of Ukraine had eased in recent days following Western diplomatic efforts with Russian President Vladimir Putin, said Art Hogan, chief strategist at National Securities.
However, Friday’s change of tone in the Biden administration’s speech prompted a sell-off before markets closed over the weekend.