Ukraine’s presidential adviser said their positions in talks are unchanged
Wall Street stocks fell on Friday amid persisting geopolitical tensions. The Dow Jones gave up 0.69% to notch the fifth straight week of losses. The S&P 500 fell 1.3% and the technology-focused Nasdaq Composite lost 2.2%. Risk-off sentiment continued to dominate the markets despite Vladimir Putin said ahead of the weekend that certain positive shifts have occurred in the talks between Russia and Ukraine. In individual stocks, shares of Nike and Apple shed 2.7% and 2.4% respectively.
Asian stocks mostly slipped on Monday, with Chinese and Hong Kong stocks leading the losses as new local COVID-19 cases in China rose to a two-year high, hampering the outlook for the economy. Amid shutdown measures, Toyota announced a suspension of production in China’s Changchun city. Hong Kong’s Hang Seng plunged nearly 5%. On the positive side, Japan’s Nikkei 225 gained 0.58%.
In Europe, equity markets opened higher to start the day to turn mixed in recent trading as investors stay cautious amid the developments surrounding Ukraine. The pan-European STOXX 600 index gained 1.0% in early deals. According to the latest reports, Ukraine’s presidential adviser said their positions in talks are unchanged, while the next round of talks will be on peace, ceasefire, and security guarantees. Elsewhere, Volkswagen stocks jumped nearly 6% after the carmaker said doubled its operating profit.
In currencies, the safe-haven dollar came under some local pressure on Monday as investor sentiment looks mixed amid the ongoing talks between Russia and Ukraine. Earlier in the day, the USD index peaked at 99.30 before retreating below the 99.00 figure. Despite the correction, the dollar bulls continue to target the 100.00 psychological level as risk aversion continues to dominate global financial markets, adding to the greenback’s appeal.