News on Stocks, Oil Prices & International Trade: Monday, March 7, 2022:
Source: nytimes.com Stocks, Oil Prices and International Trade News: Live Updates William P. Davis 27-34 minutes Stocks extend their rout as the Ukraine war and its economic fallout intensif March 7 Global stocks slid on Monday as attacks on Ukraine escalated and governments considered ever-stricter economic penalties on Russia, including cutting off imports of Russian oil. It was Wall Street’s worst day in nearly two years. The S&P 500 fell 3 percent, its sharpest daily decline since May 2020. The Nasdaq composite dropped 3.6 percent and is now 20 percent off its November record, entering territory known on Wall Street as a bear market, denoting a serious downturn. Aside from the shock and uncertainty of the war, the conflict has increased concerns about prolonged inflation worldwide, and as stocks slid on Monday, energy prices jumped. Russia is a major exporter of oil and natural gas, providing 10 percent of the w