Stock Market: US, NATO vs. Russia Tensions Over Ukraine Cause Jitters Globally
The NATO announced yesterday on Monday that has deployed additional troops, ships, and planes and has kept them in standby in Eastern Europe. It claims that Russia is amassing a troop presence in the region to “annexe” Ukraine through an invasion. International news agency Reuters says that this is a major reason for the fall in share markets globally. The largest index on the MSCI has seen a decline of 1.2% which is the lowest level in a month. Japan’s Nekkei share average closed 2.88% lower, its lowest level in six months. Similarly, Hong Kong share market saw a 1.64% dip and Korea’s KOSPI declined by 1.67%. Australian benchmark indices also fell by 2.73% and closed at an eight-month low, although inflation is also a reason for the same. Investors believe that these climbdowns in the market are due to geopolitical factors which has affected the outflow of foreign funds and increased the price of crude oil. Another reason for the falls registered in global markets is the US Federal Reserve’s upcoming meeting on 25th-26th January, where it is expected to formulate policies to reign in inflation and resultant dissatisfaction within the United States.
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