Translated by: MOS Translation Team – Grace

Gnews
Picture source: NICOLE PEREIRA/NYSE/ASSOCIATED PRESS

Chinese stocks plunged on Thursday after Russian President Vladimir Putin authorized military operations in eastern Ukraine, Reuters reported on Feb. 24.

At the close of early trading, the CSI300 (.CSI300) was down 1.3 percent to 4,563.95, while the Shanghai Composite Index (.SSEC) fell 0.9 percent to 3,458.12.

The Hang Seng Index (.HSI) fell 3.1 percent to 22,925.60, while the Communist China Enterprises Index of Hong Kong (.HSCE) dropped 3.4 percent to 8,033.08.

Meanwhile, the Wall Street Journal reported that U.S. stock futures plunged Wednesday night, extending Wall Street’s last decline. Russian President Vladimir Putin authorized a “special military operation” in the pro-Russian region of Ukraine, a move interpreted as a further escalation of military tensions in Eastern Europe.

U.S. stocks also fell further on Wednesday amid fears of war in Ukraine, pushing the S&P 500 into a correction area. The benchmark index of U.S. stocks dropped 79.26 points, or 1.8 percent, to 4,225.50 points. Dow Jones futures lost 701 points, or 2.1 percent, to 32,385, S&P 500 futures fell 91 points, or 2.2 percent, to 4,126, and Nasdaq 100 futures shed 368 points, or 2.7 percent, to 13,145.

Russian President Vladimir Putin called the special operation response to a threat from Ukraine. Putin said Russia does not intend to occupy Ukraine and said the responsibility for the bloodshed lies with the Ukrainian “regime.”

Putin also warned other countries that any attempt to intervene would lead to unprecedented consequences. In any case, Russia’s war in Ukraine has increased uncertainty in global markets. It will also bring immeasurable turmoil to the financial economy and international livelihoods!

Reference: https://gnews.org/post/p2064854/

Edited and posted by: Snow Lily

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