Ukraine Crisis and Stocks

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Ukraine Crisis and Stocks
Ukraine Crisis and Stocks

Ukraine Crisis and Stocks

The conflict seems to be growing in Ukraine as the upper house of the Russian parliament has given a green signal already to the military to interfere and use its forces in Ukraine against the government regime in Kiev. The western Ukraine is anti-Russia whereas the eastern part of the Ukraine is pro-Russia so basically the protestors are being protested in other sense, while the Russian forces try to pressurize the Ukrainian government to step down.

Wall Street

The impact could be very negative and amplified as well, so the stocks in the US market are already plunging where Asian markets are most likely to fall too on Tuesday. The S&P 500 index opened in a downward gap because of this news that came in the weekend, whereas, Dow Jones index sank by 163 points in just one day.

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Follow the Bears

The Asian markets normally follow the move taken by Wall Street in the previous day, so it is recommended to the traders that they follow the same bearish movement and stay away from entering as long. Every top is a good opportunity to sell at this point.

General Electric, 3M, and Gazprom

General Electric company along with 3M dropped by nearly 1.5% on Monday where pressure was seen in the industrial sector stocks; whereas, on the other hand Gazprom of Russia sank badly by around 7.2% amidst the tensions growing between Russia and Ukraine.

Safe Haven – Gold

Yes, the tensions are growing so investors are shifting towards investing in the commodities that have been and still are considered to be a safe haven in such situations. Therefore, gold has been rising since past week and has made a new top for this year where it has topped 1353 area as well, and might go on to test 1365 and 1375 within a day or two, where it would see resistance.

To contact the reporter of this story: Jonathan Millet at john@forexminute.com