Russian invasion fears stoke jittery markets
World markets were volatile Monday as Russia continues to threaten to invade Ukraine. Add to that ongoing concerns over high inflation and rising interest rates, and Monday’s markets were choppy though they closed beyond sessions lows. The S&P finished -0.39%, the Nasdaq was nearly flat and the Dow -0.5%.
Gainers included travel names like Expedia up 2.63% and Las Vegas Sands by 2.33% and some tech including Tesla up 1.83%. Laggards included the vaccine-makers including Moderna down 11.68% as increasingly more places shed restrictions, (including Ontario). Also declining were Mosaic at -4.8%, Marathon Oil -4.5%, Halliburton -3.46% and Bath and Body Works -4.05%. Meanwhile, the U.S. 10-year yield touched 2% again as Bitcoin held just above $42,000.
Despite WTI crude hitting highs of $95 last seen since September 2014 and WCS climbing above $80, the TSX closed -0.91%. The index was weighed down by financials and energy names. Losing ground were weed names like Canopy at -8.45% and Hexo at -11.11%, Enbridge down almost 5%, SNC Lavalin at -4.62% and Nutrien slipping 3.89%. On the upside were mining stocks: Sprott up 6.79%, Agnico Eagle at 5.22% and Silvercrest Metals up 4.26%. Gold climbed 1.7% to $1,873 an ounce.
✈ Expedia (EXPE-Q) +2.63%
♠ Las Vegas Sands Corp. (LVS-N) +2.33%
🚗 Tesla Motors Inc (TSLA-Q) +1.83%
💉 Moderna (MRNA-Q) -11.68%
⛏ Mosaic Company (The) (MOS-N) -4.8%
🛢 Marathon Oil (MRO-N) -4.5%
🛢 Halliburton Co (HAL-N) -3.46%
🚽 Bath & Body Works (BBWI-N) -4.05%
🌿 Canopy Growth Corp. (WEED-T) -8.45%
🌿 Hexo Corp (HEXO-T) -11.11%
🛢 Enbridge (ENB-T) -5%
🛢 SNC-Lavalin Group Inc. (SNC-T) -4.62%
🌿 Nutrien Ltd. (NTR-T) -3.89%
🏛 Sprott Inc. (SII-T) +6.79%
⛏ Agnico-Eagle Mines (AEM-T) +5.22%
⛏ SilverCrest Metals Inc (SIL-T) +4.26%