Global stocks drop, US dollar up, as oil prices reach new highs | ICM.COM

China: Slowdown in Non-Manufacturing Activity Raises GDP Downgrade Concerns

Three major stock indexes, Dow Jones, S&P, and the Nasdaq remain down after closing low on Tuesday evening US. The dollar index continues to strengthen this morning following the announcement of EU Russian oil sanctions earlier this week.

Brent Crude hit new highs on Tuesday of $122.84, its highest since March 9. The EUs Russian Oil ban is expected to take full effect by the end of 2022 affecting 90% of Russian imports. Three countries, Hungary, Slovakia, and the Czech Republic are exempt from the import ban.

Spot gold down 0.2% hitting 2-week low thought to be due to the strengthening of the Dollar.

China: Slowdown in Non-Manufacturing Activity Raises GDP Downgrade Concerns

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