Dow Jones closes negative: sanctions on Russia worry US investors

Dow Jones closes in the red
Sanctions on Russia worry US investors

The expectation of new sanctions from the West against Russia generates uncertainty on Wall Street. Tech stocks in particular are falling significantly, with the exception of Twitter with new supervisory board member Elon Musk.

Fear of new sanctions on the Ukraine war pushed Wall Street into the red. As before in Europe, the fact that the EU Commission wants to propose import bans on coal, wood, cement, rubber and chemicals, as well as caviar and vodka worth up to nine billion euros a year caused a stir . The US also tightened its measures: the US Treasury Department prevented Russia from making payments of more than $600 million to its creditors from foreign exchange reserves held in US banks.

On Wall Street, you have dow jones given in. The main US index lost 0.8 percent to 34,641 points. the high tech nasdaq fell 2.3 percent to 14,204 points and the broad S&P 500 it lost 1.3 percent to 4,525 points.

US Federal Reserve Vice Chairman Lael Brainard told a regional Fed event in Minneapolis that reducing inflationary pressures was “a priority”. Brainard announced a “series” of rate hikes. Higher interest rates lead to higher financing costs, especially for high-growth technology companies. Starting in May, Brainard also wants to start a rapid reduction in total assets, which had expanded enormously during the coronavirus pandemic.

Twitter
Twitter 46.49

stand up again Twitter in the spotlight of investors: the head of Tesla, Elon Musk, will join the supervisory board of the short message service. It was announced on Monday that Musk has a 9.2 percent stake in Twitter, making him the largest individual shareholder. Twitter shares rose another 2 percent after gaining 27 percent the day before. Twitter founder Jack Dorsey praised Musk in a tweet: “He is a passionate supporter and fierce critic of our service, which is exactly what we need at Twitter and on the board to make us stronger for the long haul.” TeslaStocks, on the other hand, lost 4.7 percent.

Carnival-Shares rose 2.5 percent after the cruise line reported its best booking week ever. Investors in Europe also did not want to take any risk.

the dax it closed 0.7 percent lower on Tuesday at 14,424 points. the eurostoxx50 it lost 0.8 percent to 3,917 points. According to a Russian media report, Russia and Ukraine have meanwhile continued their negotiations. The Interfax news agency reported, citing the Russian Foreign Ministry, that intense discussions were taking place via video link.

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