Dow falls over 300 points to finish in bear market; S&P 500 ends at new 2022 low
U.S. stocks closed lower Monday amid elevated market volatility,...
U.S. stocks closed lower Monday amid elevated market volatility, extending last week's losses as the S&P 500 sank to a new 2022 low. The S&P 500 SPX, -1.03% dropped 1% to end around 3,655.52, while the Dow Jones Industrial Average DJIA, -1.11% fell 1.1% and the Nasdaq Composite COMP, -0.60% slid 0.6%, according to preliminary FactSet data. The S&P 500 ended below its previous closing low this year of 3666.77 on June 16. Wall Street's fear gauge has climbed amid fears over the Federal Reserve aggressively raising interest rates to fight inflation, with investors worried its hawkish stance will lead to a U.S. recession. The CBOE Volatility Index VIX, 5.88% climbed to more than 31 Monday, above its 50-day moving average of 23.86, FactSet data show, at last check. The yield on the 10-year Treasury note surged 18.3 basis points Monday to 3.878%, the highest rate since April 2010 based on 3 p.m. Eastern time levels, according to Dow Jones Market Data. The Dow ended in bear market territory, finishing around 29,260.81 Monday.
Colo. county battles fallout from 2018 pipeline closure
Anadarko Petroleum's 2018 decision to take out of service its Third Creek gathering pipeline system...
Anadarko Petroleum's 2018 decision to take out of service its Third Creek gathering pipeline system in Adams County, Colo., over safety concerns led to business failures, increased oil leaks and a rise in the number of orphan wells in the area. According to one estimate, between 230 and 250 of the state's 981 orphan wells had relied on a connection to Third Creek
Oil loses ground amid continued global recession fears
Oil prices slipped for their second consecutive day during trading earlier today as fears of a global...
Oil prices slipped for their second consecutive day during trading earlier today as fears of a global economic slowdown weighed on markets, although prices have gained some support from supply constraints caused by the Ukraine War. West Texas Intermediate was down 87 cents at $77.87 for November delivery, while international benchmark Brent crude futures were changing hands $1 down on $85.15.
Pressure in defunct Nord Stream 2 pipeline plunged overnight - operator
BERLIN, Sept 26 (Reuters) - Pressure in the Nord Stream 2 undersea gas pipeline from Russia to Germany...
BERLIN, Sept 26 (Reuters) - Pressure in the Nord Stream 2 undersea gas pipeline from Russia to Germany dropped from 105 to 7 bars overnight, a spokesperson for the pipeline's operator said, adding that the company did not know the cause of the drop.
The Russian-owned pipeline, which was intended to double the volume of gas flowing from St. Petersburg under the Baltic Sea to Germany, had just been completed and was filled with 300 million cubic metres of gas when German Chancellor Olaf Scholz canceled it shortly before Russia invaded Ukraine.
The Swiss-based operator, which has legally been wound up, said it had informed all relevant authorities and that the leak, if that were the cause, could not have been at the landing point in Lubmin, northern Germany. "If it were in Lubmin, you'd have heard it," the spokesperson said.
Russian stocks sank on Monday to levels not seen since 2017,...
Russian stocks sank on Monday to levels not seen since 2017, weighed down by a global market selloff, threats of more sanctions and signs of continued unrest after last week’s partial mobilization.
The MOEX, a closely watched benchmark of Russian stocks, fell as much as 10% on Monday and was last down around 6% to 1,953.16, marking the weakest level since June 2017, according to Trading Economics. The index is trading under 2,000 for the first time since February, with today’s drop the worst since Russia invaded Ukraine in late February.
