With the course of events in Ukraine, the main Wall Street indices began Thursday’s session with notable falls as a result of the conflict in Ukraine. But far from being intimidated, investors flip indices towards the end of the day. Something that has been seen, above all, in technology.
The Nasdaq Composite it rises 3.34% this Thursday and reaches 13,473.59 points, which means that it adds 436.10 integers in the session, after having fallen to hell: at its worst moment of the day it gave up 3, Four. Five%.
In the same line has behaved the Nasdaq 100, which rebounded 3.44% in the session and stood at 13,974.67 units. However, it fell by 3.29%.
Among the securities that are listed in this last index and that register the greatest increases, cybersecurity companies stand out: Crowdstrike Holdings (13.01%), Palo Alto Networks (12.72%), Fortinet (11.34%) or Zscaler ( 10.06%). These companies take advantage of the instability generated by computer attacks in Ukraine on government systems and financial institutions. Additionally, Moderan shares have soared 15%.
On the other hand, the Dow Jones it rises 0.28% at the end of the day and reaches 33,223.83 points; and the S&P 500 up 1.50% and stands at 4,288.70 integers.
So far this year, the S&P 500 is down 10.32%; the Dow Jones falls 8.57% and the Nasdaq 100 falls 14.37%.
Investors have sought refuge in technology firms Americans with the largest market capitalization.
“Russia’s invasion of Ukraine has added to an already tense year, with investors selling first and asking questions later,” said Ryan Detrick, chief market strategist at LPL Financial, in a statement collected by Bloomberg. “But it’s important to know that the great geopolitical events of the past used to be short-term market problemsespecially if the economy had a solid foundation,” said the expert.
“Central banks around the world have made a concerted effort to curb inflation without significant disruption or missteps in monetary policy,” said Keith Buchanan, portfolio manager at Globalt Investments. “If we have inflationary pressures that are accelerating at the same time that growth prospects are diminishing, that is definitely worrying.
The conflict between Russia and Ukraine threatens to alter the cost of raw materials and food worldwide, since Russia remains a power in raw materials and Ukraine is a major grain exporter. Earlier in the session, natural gas in Europe rose as much as 62%, while metals also soared, adding to inflationary pressures.
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