Jakarta, CNBC Indonesia – The stock market of the United States (US) is likely to collapse in today’s trading. Wall Street is likely to follow in the footsteps of European bourses.
On Tuesday (28/2/2022) at 17:58 WIB, here are the market developments futures the three main indexes on the New York stock exchange:
Wall Street is likely to follow the fall of European stock markets. At 17:46 WIB, the FTSE 100 (UK) index was down 1.24%, DAX 40 (Germany) was down 2.58%, CAC 40 (France) was minus 2.98%, FTSE MIB (Italy) was down 2.89 %, and IBEX 35 (Spain) slashed 1.64%.
Russia-Ukraine tensions are still a major concern of market participants. Investors responded negatively to the move by Western countries (plus Japan and South Korea) to eject Russia from the SWIFT global payment system. This means that Russia’s access to international financial markets is practically closed.
Russia is still waging its aggression in Ukraine. Recently, Russian troops reportedly managed to control two cities in Southeastern Ukraine, namely Berdyansk and Enerhodar.
Explosion after explosion continued to occur in the two largest cities of Ukraine, Kyiv and Kharkiv. Citing Reuters, an official at the US Department of Defense said Russia had fired more than 350 missiles into Ukrainian territory. As a result, nearly 400,000 Ukrainians, mostly women and children, have gone to neighboring countries.
“We are still having a very negative week. In my opinion, there are no issuers that can move the market, because we are talking about the stability of the financial system as a whole. Not to mention the threat of nuclear war,” said Kyle Rodda, Analyst at IG Australia, as quoted from Reuters.
Currently, investors are choosing safe assets and leaving risky assets such as stocks. On the foreign exchange side, currency status safe haven strengthened. Against the U.S. dollar, the Japanese yen was up 0.02% at 5:55 p.m. ET. While the Swiss franc appreciated 0.45%.
In the commodity market, the price of gold continues to climb. At 17:56 WIB, the world gold price on the spot market shot up almost 1% to US$ 1,907.21/troy ounce. In the past month, the price of the precious metal rose more than 6%.
CNBC INDONESIA RESEARCH TEAM
(aji / aji)
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