Economy, inflation, Ukraine war
sell american stocks It accelerated in afternoon trading after Federal Reserve Chairman Jerome Powell gave a fresh warning about inflation.
“Inflation expectations have deteriorated significantly this year even before the Russian invasion of Ukraine,” he told the National Association for Business Economics.
| tape | protection | the last | they change | they change % |
|---|---|---|---|---|
| Me: DJI | Dow Jones averages | 34472.2 | -282.73 | -0.81% |
| SP500 | Standard & Poor’s 500 | 4445.49 | -17.63 | -0.40% |
| I: COMP | Nasdaq Composite Index | 13767.854762 | -125.98 | -0.91% |
The Dow Jones Industrial Average is down more than 300 points, or 0.9%, while the S&P 500 and Nasdaq Composite are down 0.5% and 1%.
Russia invades Ukraine: live updates
Powell’s warning comes just days after policy makers announced their first rate hike in three years by 25 basis points and hinted that another six could come this year.
The crisis of Russia and Ukraine will hit the global economy: Nabi survey
US stocks were trending lower early Monday morning after last week’s gains put the market in positive territory for March. (Courtney Crowe/NYSE via AP/AP Images)
Russia will open stock market this week: the effect will be “internal”, not global
In deal news, Warren Buffett’s Berkshire Hathaway is expanding its insurance portfolio by buying Allegheny for $11.6 billion and putting a portion of $144+ billion in cash to work. The deal will expand Berkshire’s already large insurance holdings, including brands such as Geico auto insurance.
The Omaha, Nebraska company revealed last week that it has accumulated 14.6 stakes in oil-producing Occidental Petroleum, and has acquired additional shares worth $1 billion.
| tape | protection | the last | they change | they change % |
|---|---|---|---|---|
| s | Allegany Corporation. | 840.48 | +164.54 | + 24.34% |
| BRK.B | BERKSHIRE HATHAWAY INC. | 349.38 | +6.96 | + 2.03% |
| OXY | OCCIDENTAL PETROLEUM CORP. | 61.04 | +4.80 | + 8.53% |
Boeing Stocks fell after a 737 airliner with 132 people on board crashed in southern Guangxi Province on Monday, officials said.
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| tape | protection | the last | they change | they change % |
|---|---|---|---|---|
| Bachelor’s | Boeing Company | 185.55 | -7.26 | -3.77% |
| CE | China Eastern Airlines | 17.66 | -1.37 | -7.20% |
Elsewhere, Disney closed a Shanghai theme park as the city tried to control the biggest outbreak of the coronavirus in two years. The Southern Business Center in Shenzhen has allowed stores and offices to reopen after a week-long closure.
| tape | protection | the last | they change | they change % |
|---|---|---|---|---|
| dis | The Walt Disney Company. | 140.30 | +0.83 | + 0.60% |
After the bell, Nike will announce its earnings.
| tape | protection | the last | they change | they change % |
|---|---|---|---|---|
| NKE | Nike Inc. | 130.04 | -1.17 | -0.89% |
The price of US oil was $109 a barrel, while global benchmark Brent crude rose to $115. Gas prices, per AAA, are hovering under $4.30 per gallon.
| tape | protection | the last | they change | they change % |
|---|---|---|---|---|
| USO | United States Petroleum Fund LP | 74.64 | +0.96 | + 1.30% |
| BNO | United STS BRENT OIL FD LP UNIT | 31.79 | +2.00 | + 6.71% |
| UGA | Partnership Units in the United States Gasoline Fund LP | 59.24 | +2.40 | + 4.22% |
In cryptocurrencies, Bitcoin is trading above the $40,000 level.
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The Associated Press contributed to this report.
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