US opens lower with more Ukraine strikes, Fed input

Friday, 18. March 2022 14:31

Major stock indexes on Wall Street saw losses at the Friday opening as the Russia-Ukraine negotiations entered further complications with the Russian President Vladimir Putin accusing Kiev of making "unrealistic proposals" and the Ukrainian Foreign Minister Dmytro Kuleba discussing the fifth sanctions package with the European Union's High Representative Josep Borrell.

On the economic front, Fed of St. Louis President James Bullard stated on Friday that he recommended at a recent meeting that the central bank should try to achieve a level of the policy rate above 3% in 2022. Fed governor Christopher Waller also noted that he would be in favor of multiple 50 point basis interest rate hikes due to the current situation.

The Dow Jones dropped 0.31% at 9:30 am ET, dragged down by Walgreens Boots Alliance's 1.56% decline at 9:50 am ET, while the Nasdaq 100 fell by 0.50%, with Starbucks Corp slipping 2.27% at 9:35 am ET. Furthermore, the S&P 500 also lost 0.31% at the opening bell, with its worst performer, FedEx Corp, plunging 6.12% at 9:40 am ET. The euro decreased 0.77% against the dollar, selling for 1.10066 at 9:31 am ET.

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Baha Breaking News (BBN) / SP