Market Wrap: Shares and cryptos fall because the United States is trying to lift Russia's trade status
Market Wrap: Shares and cryptos fall because the United States is trying to lift Russia's trade status
- cryptos and stocks fell down on Friday after bidding announced that the United States, the European Union and other nations would try to ban further Russian imports
- "A direct confrontation between NATO and Russia is World War II. And something that we have to try to prevent," said President Biden on Friday in a tweet
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The step increases the ban on Russian imports to other goods, including vodka and seafood.
In a press Instruction said Biden, the change in the trade status of Russia "would be another exterior blow. Among our sanctions. ”
biden confirmed that the United States would defend NATO, but that a direct conflict between NATO and Russia would lead to a new World War.
"I would like to make it clear: We will defend every centimeter of the NATO territory with the full power of a united and fired NATO," said Biden called . But we will not wage war against Russia in Ukraine. A direct confrontation between NATO and Russia is the Third World War. And something we have to try to prevent. "
So far, Russia seems to be indifferent to the economic dispute. The country even intensified its move through Ukraine by attacking airfields in the west and a large industrial city in the east, which reduced hopes for a diplomatic end of the conflict.
Despite the severe economic blow, Russia continued its invasion and made the markets very volatile. The S&P 500 fell by 1.3 % on Friday, while Nasdaq and Dow decreased by 2.13 % and 0.69 %.
The cryptoma markets also declined, with Bitcoin fell by 2.09 % and ether by 2.08 % by the end of stock trading.
Thorchain, a decentralized liquidity protocol, was the largest winner of the day among the top 100 coins after market capitalization with a profit of 9.27 %.
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go forward
The markets will remain volatile in the future, as the conflict between Ukraine and Russia intensifies. The Federal Reserve meeting takes place in mid -March next week, in which the Fed plans to announce its interest plan.
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The post "Market Wrap: Stocks, Crypto's Fall as Us Looks to Remove Russia’s Trade Status" is not a financial advice.