Oil prices surge above $100 a barrel as war on Ukraine rages
Oil prices soared on Tuesday and investors shifted more money into ultra-safe US government bonds as Russia stepped up its war on Ukraine.
Stocks fell following a volatile day for major indexes as investors tried to measure how the conflict will impact the global economy. The S&P 500 index fell 0.7 per cent as of 10:14 am Eastern.
The Dow Jones Industrial Average fell 337 points, or 1 per cent, to 33,554 and the Nasdaq fell 0.5 per cent.
The bigger moves came from the markets for oil, agricultural commodities and government bonds.
Oil has been a key concern because Russia is one of the world’s largest energy producers.
