Bill Browder, the founder and CEO of Hermitage Capital Management, an investment fund and asset management company with experience in Russian markets, argues the U.S., U.K., Canada, Australia and Canada must ‘go after’ Vladimir Putin’s money.
U.S. stocks plunged as Russian President Vladimir Putin launched his along-anticipated military operation in Ukraine sending investors out of risk and into safety.
The Dow Jones Industrial Average fell over 800 points or 2.5%, while the S&P 500 also fell by 2.5% and the Nasdaq Composite saw a steeper slide of 3%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 32429.25 | -702.51 | -2.12% |
| SP500 | S&P 500 | 4156.41 | -69.09 | -1.64% |
| I:COMP | NASDAQ COMPOSITE INDEX | 12845.699011 | -191.79 | -1.47% |
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(Yuri Kochetkov/Pool Photo via AP / AP Newsroom)
Apple and Tesla paced the declines among the larger market cap companies.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 155.85 | -4.22 | -2.64% |
| TSLA | TESLA INC. | 743.13 | -20.91 | -2.74% |
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The price of oil jumped on concern about possible disruption of Russian supplies. U.S. crude neared $99 per barrel, while Brent, the global benchmark, crossed $100 per barrel.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND L.P. | 69.28 | +3.06 | +4.62% |
| BNO | UNITED STS BRENT OIL FD LP UNIT | 27.57 | +1.51 | +5.81% |
Gold climbed above the $1,900 level, the highest in a year putting mining stocks in focus.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GLD | SPDR GOLD SHARES TRUST – EUR ACC | 180.67 | +2.39 | +1.34% |
| NEM | NEWMONT CORP. | 68.01 | -0.29 | -0.42% |
| GOLD | BARRICK GOLD CORP. | 23.08 | +0.22 | +0.96% |
Elsewhere, defense makers including Lockheed Martin, Northrup Grumman and Raytheon rose.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LMT | LOCKHEED MARTIN CORP. | 393.69 | +4.66 | +1.20% |
| RTX | RAYTHEON TECHNOLOGIES CORP. | 90.51 | -1.22 | -1.33% |
| NOC | NORTHROP GRUMMAN CORP. | 396.33 | +10.28 | +2.66% |
In corporate news, Moderna shares got support after CEO Stephane Bancel predicted there is an 80% chance we are moving into an endemic meaning COVID will be around forever.
“I think, what’s going to happen is an annual booster, which is why, you know, we’re working on adding flu to COVID vaccine in a single dose” he said on ‘Mornings With Maria.’
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MRNA | MODERNA INC. | 145.72 | +9.98 | +7.36% |
Live Nation shares also rose after reporting revenues of $2.7 billion, higher than expected, while also delivering an upbeat outlook for the forthcoming concert season.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LYV | LIVE NATION ENTERTAINMENT INC. | 119.56 | +6.21 | +5.47% |
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In cryptocurrencies, Bitcoin skidded to the $35,000 level.
Crypto exchange-traded funds and related crypto companies traded in tandem.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BITO | PROSHARES TRUST BITCOIN STRATEGY ETF | 22.26 | -1.36 | -5.76% |
| GCC | WISDOMTREE TRUST ENHANCED COMMODITY STRATEGY | 23.75 | +0.57 | +2.47% |
| MSTR | MICROSTRATEGY INC. | 351.06 | -13.97 | -3.83% |
| COIN | COINBASE GLOBAL INC. | 166.42 | -6.32 | -3.66% |
European markets remained lower. In Asia, the Nikkei 225 in Tokyo sank 1.8%, the Hang Seng in Hong Kong tumbled 3.2% and China’s Shanghai Composite Index lost 1.7%.
In Russia, the Moscow Exchange has suspended trading across all markets, so no trading in stocks or rubles, according to Bloomberg.
FOX Business’ Ken Martin and The Associated Press contributed to this report.
