- Tampa zoo rushes Chompers the porcupine and others to safety as Milton nears
- Shanghai stocks pare early surge on stimulus worries amid Asia retreat
- New Japan PM to hold talks on ASEAN sidelines
- Record number of climbers chase 14-peak dream in Tibet
- Former South Korea clinic for US 'comfort women' to be demolished
- China holds off on fresh stimulus but 'confident' will hit growth target
- Chiefs battle past Saints to stay unbeaten
- Deal on climate aid hangs in balance at UN COP29 summit
- Royals hit back against Yankees, Tigers maul Guardians
- German suspect in 'Maddie' case faces verdict in sex crimes trial
- Top economic official 'confident' China will hit 2024 growth target
- COP29 fight looms over climate funds for developing world
- Shanghai stocks soar to extend stimulus rally amid Asia-wide drop
- Australia moves to expand Antarctic marine park
- Tragedy of Madrid street sweeper highlights how heatwaves kill
- Survivors wait for aid as Trump's lies help cloud Helene response
- Fleeing Israeli bombs, Lebanon's displaced met with suspicion
- Jila Mossaed, from refugee poet to Swedish Academy
- Will Tesla's robotaxi reveal live up to hype?
- Drugs, people smuggling at heart of Mexico's raging violence
- 'Invisibility' and quantum computing tipped for physics Nobel
- Musk says he is 'all in' on Trump in US election
- Category 5 Hurricane Milton roars towards storm-battered Florida
- Carpenter bomb stuns Guardians as Tigers level series
- Harris, Trump and Biden mark Oct. 7 attacks as US election looms
- Oil prices extend gains on Mideast tensions, Wall Street falls
- US judge orders Google to open Android to rival app stores
- On attacks anniversary, Israel fights 'sacred' multi-front war
- Nobel scientist uncovered tiny genetic switches with big potential
- Grammy-winning Cissy Houston, mother of Whitney, dies at 91
- UN biodiversity summit in Colombia aims to turn words into action
- Georgia Supreme Court reinstates six-week abortion ban
- 'Dark day': Victims mourned around the globe on Oct. 7 anniversary
- On attacks anniversary, Israel fights multi-front war
- Mexican mayor murdered days after taking office
- Intensifying to Category 5, Hurricane Milton targets Florida
- Mission to probe smashed asteroid launches despite hurricane
- Biden, Harris mark Oct. 7 with call for Mideast peace
- Dupont set for Toulouse return after post-Olympic holiday
- French rugby bosses tighten discipline after nightmare Argentina tour
- Oil prices extend gains on Mideast tensions, Wall Street slips
- Visitors to get rare view of Rome's Trevi Fountain
- Europe's asteroid mission Hera launches despite hurricane
- Man City and Premier League both claim victory in legal case
- Deschamps delight as 'light back on' for Pogba after doping ban
- Biden, Harris urge Mideast peace on Oct. 7 anniversary
- Neeskens, tough midfielder in Cruyff's Ajax and Dutch teams
- UN warns world's water cycle becoming ever more erratic
- Oil prices extend gains on Mideast tensions, Wall Street retreats
- Ex-Dutch football star Johan Neeskens dies
RBGPF | 100% | 60.52 | $ | |
SCS | -0.15% | 12.95 | $ | |
AZN | -0.78% | 76.87 | $ | |
NGG | -1.56% | 65.48 | $ | |
RIO | -0.11% | 69.62 | $ | |
CMSC | -0.53% | 24.57 | $ | |
RYCEF | -0.15% | 6.87 | $ | |
GSK | -0.49% | 38.63 | $ | |
VOD | 0.31% | 9.69 | $ | |
BTI | -0.26% | 35.2 | $ | |
BCE | -0.54% | 33.53 | $ | |
RELX | -0.54% | 46.04 | $ | |
JRI | -0.76% | 13.18 | $ | |
BCC | 1.68% | 141.27 | $ | |
CMSD | -0.09% | 24.79 | $ | |
BP | 0.78% | 33.14 | $ |
European, US stocks fall as markets fear long Russian attack
European and US stocks tumbled as investors monitored the worsening toll of the Russian invasion of Ukraine amid worries over high oil prices.
Brent North Sea crude reached $119.84 per barrel, the highest level since early 2012, while WTI touched a 14-year peak -- but both gave up ground mid-session and finished lower.
Equity markets in Europe and New York rose early in the day, but the rally fizzled amid fresh headlines of carnage in Ukraine and new sanctions against Russia.
Among US indices, the Nasdaq was the hardest-hit, falling 1.6 percent.
The losses were greater in Europe, with Paris, Frankfurt and London all down at least 1.8 percent.
"Any rebounds we're seeing in risk appetite appear more driven by hope than reality and as we're seeing today, they're not lasting," said Oanda's Craig Erlam.
With more sanctions on Russia in the offing, "I struggle to see market sentiment dramatically improving for the foreseeable future."
Hopes for a quick end to the war faded as French President Emmanuel Macron said he fears the "worst is to come" after a conversation with Russian President Vladimir Putin.
Russian forces took the Black Sea port of Kherson in southern Ukraine, the first major city to fall after a string of setbacks for Moscow. They also pounded the besieged port city of Mariupol, which is without water or power.
"It feels like more escalation," said Art Hogan, chief strategist at National Securities, adding that investors are unnerved by the rise in oil prices over worries about the stability of Russian crude production.
"The longer you stay at elevated levels, the more of a drag there is on the global economy," Hogan said.
Elsewhere, the euro sank to the lowest level against the pound since mid-2016, as the start of a second week in fighting triggered concerns over the eurozone's economic recovery from the coronavirus pandemic.
"The Russian invasion-induced surge in oil has suddenly undermined European growth prospects," said Joe Manimbo, analyst at Western Union Business Solutions.
"Soaring energy puts a significant headwind on the economy by dampening growth prospects and intensifying upward pressure on record high inflation."
- Key figures around 2150 GMT -
Brent North Sea crude: DOWN 2.2 percent at $110.46 per barrel
West Texas Intermediate: DOWN 2.6 percent at $107.67 per barrel
New York - Dow: DOWN 0.3 percent at 33,794.66 (close)
New York - S&P 500: DOWN 0.5 percent at 4,363.49 (close)
New York - Nasdaq: DOWN 1.6 percent at 13,537.94 (close)
London - FTSE 100: DOWN 2.6 percent at 7,238.85 (close)
Frankfurt - DAX: DOWN 2.2 percent at 13,698.40 (close)
Paris - CAC 40: DOWN 1.8 percent at 6,378.37 (close)
EURO STOXX 50: DOWN 2.1 percent at 3,741.78 (close)
Tokyo - Nikkei 225: UP 0.7 percent at 26,577.27 (close)
Hong Kong - Hang Seng Index: UP 0.6 percent at 22,467.34 (close)
Shanghai - Composite: DOWN 0.1 percent at 3,481.11 (close)
Euro/dollar: DOWN at $1.1069 from $1.1119 late Wednesday
Pound/dollar: DOWN at $1.3350 from $1.3406
Euro/pound: DOWN at 82.89 pence from 82.94 pence
Dollar/yen: DOWN at 115.45 yen from 115.52 yen
burs-jmb/cs
H.E.Young--AMWN