December 4, 2022

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European markets are set to fall further as concerns persist between Russia and Ukraine

European markets are set to fall further as concerns persist between Russia and Ukraine

LONDON – European markets are set to fall on Tuesday as the prospect of a Western ban on Russian oil imports fuels concerns about inflation and slowing growth.

Britain FTSE 100 Set to open 54 points low at 6605, Germany Dax It drops by 222 points to 12613 and France CAC 40 It is expected to fall about 104 points to 5,878, according to IG data.

Peace talks between Russia and Ukraine in Belarus have made little progress in easing the escalating war, and investors remain volatile after the war. The United States has revealed active discussions with European governments About banning imports of Russian crude oil and natural gas.

Such a move could pose the risk of stagflation – a period of slow economic growth and high unemployment combined with high inflation – for the global economy.

The news has been sent Oil prices to their highest level in 13 years, although they gave up most of those gains during Monday’s trading session. International benchmark Brent crude rose about 3.7% to trade at $127.80 a barrel early Tuesday morning in Europe, while US crude rose 3% to hover around $123.

Ukrainian Defense Intelligence Agency Claimed Monday night To kill a second Russian general near Kharkiv where heavy fighting has erupted in recent days.

Mainland China markets led declines across the board in Asia Pacific On Tuesday, while US stock futures He pointed to more losses on Wall Street later in the day, after the S&P 500 posted its worst day since October 2020 during regular trading on Monday.

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