Analysts have turned cautious amid Russia’s military operation and said downside risks remain for financial markets over the coming days, NDTV reported.
“Clearly, the situation in Ukraine is incredibly fragile, and investors remain nervous that Russian authorities lay claim to broader areas of the Donbas than those currently held by rebels and potentially now by the Russian military. The market reaction to the first tranche of Russian sanctions has been relatively sanguine so far,” Chris Turner, global head of markets at ING said.
Meanwhile, the price of Brent oil surged to $100 per barrel for the first time since 2014.
Bloomberg, in a report, said the world economy’s inflation shock set to worsen from Oil at $100, representing a double-blow to the world economy by further denting growth prospects.
Indian equity bourses plunged sharply, tracking the steep fall in Wall Street shares.