MarketWatch: Dow ends down over 800 points, Nasdaq slides roughly 4% as stocks tumble
Stocks dropped sharply Tuesday, with the Nasdaq Composite ...
Stocks dropped sharply Tuesday, with the Nasdaq Composite COMP, -3.95% posting its lowest finish since late 2020 ahead of earnings from tech giants Microsoft Corp. MSFT, -3.74% and Google parent Alphabet Inc. GOOG, -3.04%. The Dow Jones Industrial Average DJIA, -2.38% lost around 809 points, or 2.4%, to close near 33,240, according to preliminary figures, while the S&P 500 SPX, -2.81% shed around 121 points, or 2.8%, to end near 4,175. The Nasdaq suffered the brunt of the pressure, losing around 514 points, or 4%, to end around 12,491, which would be its lowest finish since December 2020.
Russia to Halt Gas to Poland on Wednesday in Major Escalation
(Bloomberg) Russia will halt gas flows to Poland on Wednesday in a major escalation...
(Bloomberg) Russia will halt gas flows to Poland on Wednesday in a major escalation in the standoff between Moscow and Europe over energy supplies and the war in Ukraine.
Moscow appears to be making good on a threat to cut off gas supplies to countries that refuse Vladimir Putin’s new demand to pay in rubles. Europe has said that doing so would breach sanctions and strengthen Russia’s hand unacceptably. Poland has been particularly vociferous in its criticism of Russia over the war.
Poland’s main gas supplier PGNiG said it has been informed that all flows will stop from Wednesday. Minutes earlier, Russian gas giant Gazprom issued a warning that Poland must pay up for its gas supplies on Tuesday -- in the Russian currency.
Brent and West Texas Intermediate oil futures recovered...
Brent and West Texas Intermediate oil futures recovered to $105.48 and $102.02 per barrel, respectively, on Tuesday at 12:49 PM ET, after shedding as much as $6 to $7 per barrel during Monday's session. The decline was caused by concerns that China's COVID-19 restrictions will dent fuel demand.
An analysis conducted by the American Gas Association indicates that lower-than-average underground natural...
An analysis conducted by the American Gas Association indicates that lower-than-average underground natural gas storage inventories and the supply/demand mismatch during winter are among the factors fueling the rise in gas prices. US gas production could hit a record 97 billion cubic feet per day by December and market signals suggest prices will soften in the coming months, the analysis notes.
