World markets tumble and oil prices soar with Russian attack on Ukraine
Most major Asian stock indexes fell about 3 percent, and markets in Europe dropped just as sharply in the early hours. For many indexes, it was the steepest decline since late last year, when the omicron variant of the coronavirus sparked fears of another dark phase in the pandemic.
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U.S. markets careened at the open, with all major indexes slumping 2 percent or more. But stocks recovered ground in afternoon trading after new sanctions were announced. Around 3:15 p.m., the Dow Jones industrial average was down 130 points, or 0.4 percent. The broader S&P 500 index had clawed back and advanced 0.7 percent. The tech-heavy Nasdaq briefly entered a bear market before reversing course and gaining 2.3 percent, boosted by bargain hunters and hopes that the invasion would stay the Fed’s hand on interest rates.
Though the Russian incursion is just beginning, signals Thursday — including strikes across…
