If the open doesn't start, click here
DenisVilenkin Telegram | DID YOU KNOW?
Date: | DenisVilenkin
Crude oil prices edged higher after tumbling on Thursday, when U.S. West Texas intermediate slid back below $110 per barrel after topping as much as $130 a barrel in recent sessions. Still, gas prices at the pump rose to fresh highs. The Dow Jones Industrial Average fell 230 points, or 0.7%. Meanwhile, the S&P 500 and the Nasdaq Composite dropped 1.3% and 2.2%, respectively. All three indexes began the day with gains before selling off. "Like the bombing of the maternity ward in Mariupol," he said, "Even before it hits the news, you see the videos on the Telegram channels." The message was not authentic, with the real Zelenskiy soon denying the claim on his official Telegram channel, but the incident highlighted a major problem: disinformation quickly spreads unchecked on the encrypted app. Overall, extreme levels of fear in the market seems to have morphed into something more resembling concern. For example, the Cboe Volatility Index fell from its 2022 peak of 36, which it hit Monday, to around 30 on Friday, a sign of easing tensions. Meanwhile, while the price of WTI crude oil slipped from Sunday’s multiyear high $130 of barrel to $109 a pop. Markets have been expecting heavy restrictions on Russian oil, some of which the U.S. has already imposed, and that would reduce the global supply and bring about even more burdensome inflation.
DenisVilenkin from TR