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24 Jan 2022

Global Shares Fell amid Potential Ukraine Conflict

The Index Today

On Monday, data shows that the shares across the world fell as the prospect of a Russian attack on Ukraine revoked demand for riskier assets, strengthening the dollar, buoying oil and damaging the bitcoins.

As per the statement from the U.S. State Department, it said on Sunday that it was ordering diplomats' family members to leave Ukraine in one of the clearest signs yet that American officials are bracing for an aggressive Russian move in the region.

According to the Reuters data, it showed that the Euro STOXX 600 fell 1.3% to its lowest since Dec. 20, with indexes in London, Paris and Frankfurt down between 0.8% and 1.5%. Tech stocks led losses, falling 2.3% to their lowest since October after Wall Street was pummelled last week by prospects of rising interest rates.

Michael Hewson, chief market analyst at CMC Markets said that, "Ukraine at the moment is really front of mind.

"Over the last 12 years, buy-the-dip is the mentality for investors generally. This the first time in the last 12 years, I've felt, that's not the default position to be in," he added.

Reuters data also shows that the MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7% and Japan's Nikkei eased 0.1%.

©Photo: Financial Times

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