Today’s top news from global markets
Stocks Drop as Inflation Rises, War in Ukraine Continues
US stock indexes fell as investors watched inflation and Russia’s invasion of Ukraine.
Economic Blacklist of Russia Marks New Blow for Globalization
The post-war vision of harmonious global trade was already under pressure; the invasion of Ukraine risks further economic fragmentation.
Europe to Weigh Emergency Measures to Limit Electricity Prices
EU officials are under pressure to prepare for a winter without Russian gas as energy prices soar.
Senate Leaders Urge Passage of Omnibus Spending Bill
Senate Majority Leader Chuck Schumer and others are hoping for quick passage of the $1.5 trillion funding measure, which includes aid for Ukraine.
Ukraine War Pushes Biden Toward Venezuela, Iran and Saudi Arabia in Oil Hunt
The rush to offset Russia’s rapidly shrinking contribution to global energy markets has led the White House to oil-rich countries in the Middle East, countries under US sanctions and talks with private sector oil giants.
Biden's Digital Dollar Could Rile Banks and Crypto
Plans for a digitized government greenback will find skeptics among banks and cryptocurrency firms, but geopolitics may now dominate the debate.
Can Investors and Central Bankers Rule Out a Russia-Fueled Recession?
The global economy is better protected from commodity shocks than in the 1970s, but Europe is more vulnerable than traders and officials seem to admit.
Russia Ramps Up Ukraine Attacks in Effort to Seize Key Port City
Moscow has launched a new assault on the beleaguered city of Mariupol, a day after one of its planes bombed a maternity hospital, as a more destructive phase of the Russian invasion takes a greater civilian toll.
Nickel Market Freeze Extended to Sort Out Big Trading Loss Amid Ukraine War
The pause until next week gives the London Metal Exchange more time to resolve a crisis caused by a trade originating in China, a high-profile example of how the dispute has hit financial markets.
U.S. February Consumer Prices Rose 7.9% From Year Earlier
Rising prices for energy, food and services pushed US inflation to an annual rate of 7.9% last month, disruptions in oil and commodity markets from the Ukraine crisis expected to add further cost pressures.
(END) Dow Jones Newswire
10-03-22 1915 ET