Global stock markets plunge after Russian military action in Ukraine, gold and oil up

TORONTO — Stock markets around the world plunged after Russia launched military action in Ukraine and prices for oil and gold jumped higher.

The S&P/TSX composite index was down 303.83 points at 20,440.34 in early trading, while European stock markets also fell.

In New York, the Dow Jones industrial average was down 783.34 points at 32,348.42. The S&P 500 index was down 87.83 points at 4,137.67, while the Nasdaq composite was down 281.03 points at 12,756.46.

The Canadian dollar traded for 77.92 cents US compared with 78.63 cents US on Wednesday.

The April crude contract was up US$7.01 at US$99.11 per barrel and the April natural gas contract was up 27 cents at US$4.86 per mmBTU.

The April gold contract was up US$47.00 at US$1,957.40 an ounce and the May copper contract was down less than a penny at US$4.49 a pound.

This report by The Canadian Press was first published Feb. 24, 2022.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

The Canadian Press