Dow ends down nearly 700 points as stocks suffer worst drop since mid-December
U.S. stocks booked their worst day in more than two months on Tuesday as investors emerged from...
U.S. stocks booked their worst day in more than two months on Tuesday as investors emerged from the long holiday weekend in a gloomy mood. The Dow Jones Industrial Average DJIA tumbled about 697 points, or 2.1%, ending near 33,129, while the S&P 500 index SPX fell 2% and the Nasdaq Composite Index COMP closed down 2.5%, according to preliminary FactSet data. The drop for all three equity indexes was the worst on a daily percentage basis since Dec. 15, according to Dow Jones Market Data. It also cut the S&P 500’s 2023 gain by roughly half, to about 4.1%. The selloff in risk assets came after several Federal Reserve speakers recently stressed the need to keep bringing stubbornly high inflation levels down toward the central bank’s 2% annual target. Treasury yields on Tuesday also jumped, with the 2-year rate TMUBMUSD02Y climbing to 4.729%, its highest level since 2007. The 10-year Treasury yield TMUBMUSD10Ysoared 12.6 basis points to 3.953%, its highest since November.
President Vladimir Putin said Russia would suspend participation in its last major nuclear arms control treaty with the U.S.
In a national address on Tuesday, Mr. Putin insisted that he would not pull back from his invasion of...
In a national address on Tuesday, Mr. Putin insisted that he would not pull back from his invasion of Ukraine, suggesting the war would continue for a long time. His remarks came hours before President Biden was scheduled to speak in Poland.
European Union countries on Feb. 21 approved plans to auction carbon permits early to raise cash...
European Union countries on Feb. 21 approved plans to auction carbon permits early to raise cash to help them quit Russian gas, meaning the law can now enter into force.
The plan will raise 20 billion euros (US$21.3 billion) in grants from the EU carbon market, partly by holding carbon permit sales earlier than planned. Countries will be able to spend the grants on renewable energy and energy-saving renovations to help replace Russian gas, and projects to help heavy industry decarbonize.
The rules were agreed on last year by negotiators from EU countries and lawmakers, so Tuesday's approval was a formality that approved the deal with no changes. EU lawmakers okayed the deal earlier this month.
Europe Gas: Dutch Benchmark Price Slips To Fresh 17-month Low
The Dutch benchmark wholesale gas contract slipped to a new 17-month low on Feb. 21, as healthy supply...
The Dutch benchmark wholesale gas contract slipped to a new 17-month low on Feb. 21, as healthy supply offset colder weather forecasts.
The front-month contract at the Dutch TTF hub, the benchmark for European gas trading, was down by 2.60 euros at 48.90 euros/MWh by 0940 GMT, Refinitiv Eikon data showed. Earlier, the contract dipped to 47.99 euros/MWh, its lowest level since August 2021.
"The risk premium is being sold off. We are coming out of winter with OK storage and LNG looking pretty good," a trader said.
"I think we keep on grinding down until you get a supply disruption that is quite big," the trader said.
With a major winter storm system expected to blow across the US and a jet stream likely to create ...
With a major winter storm system expected to blow across the US and a jet stream likely to create record temperatures, both high and low, it’s going to be a major topic in your office Slack this week. As of yesterday, 17 million Americans were under winter weather warnings in the West, where frigid temps are likely. Meanwhile, in the Southeast and mid-Atlantic regions, temperatures are expected to climb to nearly 90 degrees in some spots. There could be a 100-degree temperature spread from North Dakota to Florida, per CNN.
