The Magazine for Asian Investors
The situation around Ukraine remains a hot topic especially on the Western side, as the mainstream media in the U.S. as well as in Europe continue to make the issue hot. Now they say that Russia is ready to invade Ukraine with over 100,000 troops on the border. The impact has been felt yesterday on both the stock and crypto markets, as U.S. stock markets all closed in the red yesterday. The crypto market is also in deep red again this Saturday.
The DOW closed down 1.43% at 34,738.06 points.
The S&P 500 closed with a minus of 1.90% at 4,418.64 points.
The NASDAQ closed with a whopping minus of 2.78% at 13,791.15 points.
Although no order for the invasion has yet been confirmed, U.S. National Security Advisor Jake Sullivan said today, “We are at a point where violence can happen at any time.”
Russia has deployed more than 100,000 troops near the Ukrainian border, and Joe Biden has urged Americans to leave Ukraine this week. In addition to the U.S., the United Kingdom, Australia, Canada, and the Netherlands have also urged their citizens to leave Ukraine. Moreover, according to local media, the Russians, as well as the U.S., will withdraw their diplomats from Ukraine.
Despite all the hysteria, there is still no indication on the U.S. side of an attack on Ukraine from Russia. So far, the White House has relied only on statements but has not yet provided any hard evidence. On the Russian side, President Putin spoke of the U.S. trying to drag Russia into a war in which there will be no winners. He also warns that if Ukraine joins NATO or the West tries to take Crimea out of the Russian Federation, war will break out.
This was followed by a real sell-off in the crypto market, which caused the total market capitalization of crypto to fall by 4.8%.
The two main coins, Bitcoin and Ethereum, clearly show their fear level just like the stock market indices. Assets such as gold or commodities are showing their strong side at the moment.
Bitcoin is currently down 1.57% at $42,338.27
Ethereum falls 4.28% to $2,928.08
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Saturday, February 12, 2022