The New York Stock Exchange fell more than 2% during the day on news of Russia’s attacks on Ukraine, but rebounded sharply due to the influx of low-priced purchases.
On the 24th (U.S. Eastern Time), the Dow Jones 30 Industrial Average closed at 33,223.83, up 92.07 points (0.28%) from the previous day.
The Standard & Poor’s (S&P) 500 index closed at 4,288.70, up 63.20 points (1.50%) from the previous day, while the technology-oriented NASDAQ index closed at 13,473.59, up 436.10 points (3.34%) from the previous day.
Stock prices plunged more than 2-3% at the beginning of the market on news that Russia invaded Ukraine early in the day. International oil prices also surpassed $100 a barrel at the beginning.
Russian President Vladimir Putin declared a special operation in Donvas, eastern Ukraine, in an emergency speech early in the day.
In addition to eastern Ukraine, Russian attacks took place simultaneously in major cities such as the capital Kiev, and Ukraine defined it as an “all-out outbreak.” The West, including the United States, condemned Russia’s military actions at once and immediately imposed sanctions.
U.S. President Joe Biden announced sanctions to freeze assets in the U.S. of four major Russian banks and control exports of high-tech products such as semiconductors. The European Union has also agreed to sanctions aimed at controlling exports with the financial, energy, and transportation sectors.
The atmosphere reversed with President Biden’s speech on sanctions around noon.
Oil prices rose more than 9% during the day, significantly lowering the rise, falling to $92 a barrel based on the price of West Texas Intermediate (WTI) April, while Brent’s April oil price also fell to $99 a barrel.
The U.S. 10-year government bond rate once fell to 1.84% as demand flocked to government bonds, a safe asset, but rose to 1.99% at the closing point.
The volatility index (VIX), called the Wall Street fear index, rose more than 10% during the day and then turned downward.
The NASDAQ index entered the bear market, falling more than 20% from its previous high, but the entire index rebounded quickly due to low-priced buying into large technology stocks.
New York Stock Exchange experts expected the stock market impact of tensions to be limited from a mid-term perspective. However, some predicted that the stock price could fall further due to the incident for the time being.
