Posted on 03/04/2022 1:38:26 PM PST by aimhigh
Investors dumped European stocks and the euro currency on Friday, as anxiety ramped up over an intensifying war in Ukraine. Bank of America said the most money ever flowed out the region over the last week.
The Stoxx Europe 600 index XX:SXXP closed down 3.6% and lost 7% for the week, the biggest since March 2020 when the coronavirus pandemic began, in the wake of Russia’s invasion of Ukraine.
The German DAX DX:DAX closed down 4.41% and French CAC 40 FR:PX1 was down 4.97%, while the FTSE 100 index UK:UKX closed down 3.48%.
The euro EURUSD was under pressure, down 1.3% to $1.0914, a level not seen since May 2020, as investors flocked to the U.S. dollar DXY, gold GC00 and government bonds. The yield on the 10-year bund BX:TMBMKDE-10Y fell 6 basis points to negative 0.06%.
(Excerpt) Read more at finance.yahoo.com ...
Worries? Worrying is like paying interest on a loan you haven’t taken out.
Who knew that financial weapons were a double-edged sword?
Bidenistas hardest hit!
Well done!
Surprisingly, the prospect of a nuclear war isn’t good for the market. Of course, selling stock wouldn’t help much either. Unless you cash out of the market for paper money, which could then be used as fire kindling.
Everyone worldwide will be hurt but Politicians.
The next yr will be a lot different that we are used to even here with prices going up. Read to expect grocery bills to go up $1,000 a month.
Guess they will have to print more money to give out-said with tongue in cheek.
Saw a report earlier of Russia going to a gold backed Ruble.
Don’t know what to make of that.
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