On Thursday, global stocks fell to a deeper correction as investors monitored the escalating tensions between Russia and Ukraine.
As Russian President Vladimir Putin authorized a military operation in Ukraine’s Donbas region, the market sentiment dampened.
The Ukrainian capital Kyiv and other parts of the country reported explosions after Putin’s announcement, declaring a state of emergency.
In line with this, fears about a possible full-scale Russian invasion widely spread across the globe.
Then, the United States and its allies vowed to impose severe sanctions on Moscow after the attacks.
Accordingly, Asia-Pacific stocks traded in the negative territory.
In Japan, the Nikkei 225 index slashed 1.81% to $25,970.82 points.
The worst decliners included Softbank Group Corp. The multinational company lost 6.83% to $41.93 per share.
AGC Inc., a glass manufacturing firm, also plummeted 6.12% to $44.18 per share.
Then, Furukawa Electric Co. shed 5.93% to $19.54 per share.
Similarly, the broader TOPIX index inched down 1.25% to $1,857.58 per share.
In Hong Kong, Hang Seng’s benchmark retreated 3.13% to 22,919.70 points, hitting a 2-month low.
Subsequently, e-commerce giant Alibaba Group weakened 6.05% to a record $13.52 per share ahead of its earnings.
Moreover, Shimao Group tanked 11.49% to $0.63 per share as the property developer struggled to repay investors.
Mainland Chinese stocks also registered losses as the Shanghai Composite tumbled 1.70% to 3,429.96 points. The Shenzhen counterpart pared 2.20% to 13,252.24 points.
In South Korea, the benchmark KOSPI sharply dropped 2.60% to 2,648.80 points.
Likewise, the Kosdaq Composite index sank 3.32% to 848.21 points.
The Bank of Korea retained its interest rates unchanged at 1.25% today.
Nevertheless, the central bank anticipated the consumer price inflation to run substantially above 3.00% in the coming reports.
World Stocks Downglp
In Australia, the S&P/ASX 200 index fluctuated 2.99% to 6,990.60 points.
Correspondingly, Europe’s benchmark STOXX 600 slumped 2.72% to 441.51 points.
In London, the FTSE-All Share index dipped 2.32% to 4,073.09 points.
At the same time, the FTSE 100 index reduced 2.44% to 7,315.23 points.
Furthermore, Wall Street futures also entered a bear market.
The Dow Jones Industrial Average futures decreased 1.96% to 32,394 points.
Correspondingly, contracts tied to the S&P 500 index diminished 2.05% to 4,133.75 points.
In addition, the Nasdaq futures declined 2.70% to 13,139.25 points.
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