{"id":324694,"date":"2022-02-24T11:47:25","date_gmt":"2022-02-24T11:47:25","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=324694"},"modified":"2022-02-24T11:56:26","modified_gmt":"2022-02-24T11:56:26","slug":"dow-futures-asian-markets-nosedived-as-russia-invades-ukraine","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/02\/24\/dow-futures-asian-markets-nosedived-as-russia-invades-ukraine\/","title":{"rendered":"Dow futures, Asian markets nosedived as Russia invades Ukraine"},"content":{"rendered":"

Asian markets and US stock futures plunged on Thursday\u00a0<\/strong>as Russian President Vladimir Putin\u00a0announced<\/a>\u00a0a military operation in the Donbas region of Ukraine.<\/p>\n

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Hong Kong\u2019s\u00a0Hang Seng Index\u00a0(HSI<\/span>)\u00a0declined 3.2%. Korea\u2019s Kospi dropped 2.7%. Japan\u2019s\u00a0Nikkei 225\u00a0(N225<\/span>)\u00a0lost 2.4% after coming back from a holiday. China\u2019s Shanghai Composite moved 0.9% lower.<\/div>\n
US stocks futures also tumbled. Dow futures were down\u00a0<\/strong>as much as 780 points, or 2.4%. S&P 500 and Nasdaq futures were down 2.3% and 2.8% respectively.<\/div>\n
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The Moscow Exchange announced Thursday it had suspended trading on all of its markets until further notice.<\/div>\n<\/div>\n
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The Russian ruble plummeted nearly 10% against the US dollar, trading at 89.59 per dollar.<\/div>\n
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The market turbulence comes as CNN teams in Ukraine reported explosions. Putin announced a military operation in the\u00a0Donbas region<\/a>\u00a0of eastern Ukraine early Thursday local time.<\/div>\n<\/div>\n<\/div>\n
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In the address, broadcast on Russian national television, Putin urged Ukrainian forces to lay down their arms and go home, saying all responsibility for possible bloodshed will be entirely on the conscience of the Ukrainian government.<\/div>\n
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Putin\u2019s speech came as concerns mounted of an imminent full-scale Russian invasion. Ukrainian President Volodymyr Zelensky said in an emotional speech early Thursday that the Russian leadership had approved military action in Ukraine and vowed the country would defend itself.<\/div>\n
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\u201cGeopolitical risks remain at the forefront, weighing on risk assets as heightened uncertainty over Ukraine continue to keep market participants on edge,\u201d wrote Yeap Jun Rong, a market strategist for IG Group, in a note on Thursday.<\/div>\n
<\/div>\n
He added that Putin is probably \u201cwilling to weather the economic impact of sanctions, which may bring into question on what the Western powers can do to hold off an invasion.\u201d<\/div>\n
Brent crude<\/a>, the world benchmark, climbed above $100 a barrel for the first time since 2014. US crude jumped 4.8% to $96.55 a barrel.<\/div>\n<\/div>\n
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Chinese tech stocks ignore state media call<\/h3>\n<\/div>\n
Meanwhile,Chinese tech shares fell on Thursday despite state media seeking to reassure investors over regulation concerns.<\/div>\n
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On Friday, Chinese authorities released\u00a0a set of new rules<\/a>\u00a0to help the services sector recover from the pandemic, and directed online delivery platforms to cut service fees or commissions they charge businesses.<\/div>\n
<\/div>\n
The announcement sparked fears about a renewed tech crackdown and hammered tech shares this week. Online food delivery platform Meituan has plunged more than 20% since Friday.<\/div>\n
The state-run Economic Daily tried to play down the fears on Wednesday.<\/div>\n
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The market has \u201cover-reacted\u201d to the government\u2019s guidance that food delivery platforms should cut service fees they charge businesses, the state-run Economic Daily said in an\u00a0editorial, adding that the policy\u2019s aim is to not target the internet economy but to support the service sector in the post-pandemic recovery process.<\/div>\n
<\/div>\n
\u201cThe guidance has more than 5,000 words, with only a few lines concerning the platform economy,\u201d the paper said.
\nBut tech investors are still nervous. Meituan was down 2.4%. Tencent, which has a major stake in Meituan, tumbled 3%. Alibaba, which owns food-delivery platform Ele.me, sank more than 6%.<\/div>\n
Alibaba is scheduled to reveal its quarterly earnings later Thursday.<\/div>\n<\/div>\n

CNN Business\u2019 Matt Egan contributed to the report.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Asian markets and US stock futures plunged on Thursday\u00a0as Russian President Vladimir Putin\u00a0announced\u00a0a military operation in the Donbas region of Ukraine.<\/p>\n","protected":false},"author":4,"featured_media":324695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,23],"tags":[442],"class_list":["post-324694","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-money-markets","tag-russia-ukraine-crisis"],"yoast_head":"\nDow futures, Asian markets nosedived as Russia invades Ukraine - egy-africa<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2022\/02\/24\/dow-futures-asian-markets-nosedived-as-russia-invades-ukraine\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dow futures, Asian markets nosedived as Russia invades Ukraine - 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