Investors showed a day of bullish optimism as oil prices found a top and receded sharply. The volatility is not likely over, but it’s good to see support coming back into equity indexes.
An intraday rally across equities faded as oil price volatility kept investors guessing.
nvestors continued to dump risky equities as the price of oil seems to have no ceiling. The Nasdaq closed more than 20% below its all-time high as it enters a bear market status.
Good economic news isn’t enough to overcome market fears about the crisis in Ukraine. The US dollar and safe havens soared higher today while oil and commodity markets also continue rising.
Oil prices continued to raise inflation fears on Thursday, causing stocks to slide. Commodity prices are also rising as the war in Ukraine intensifies.
The price of oil was the only winner on the first day of March. Investors fled for safe havens as Brent Oil surged 9% and topped $100 a barrel