Global markets appeared to be turning the corner with the US ban of Russian oil imports seemingly priced in, moving little after the announcement. Despite this, all three US stock markets finished in the red.
The Nasdaq, which is experiencing its third bear market in five years, outperformed, falling 0.3% with the S&P 500 and Dow Jones finishing 0.7% and 0.6% lower.
Pressure on Russia continues to ramp up amid a ceasefire to allow civilians to flee, with McDonald’s (NYSE: MCD) announcing it would close more than 800 stores in the country.
The oil price weakened but Shell (NYSE: SHEL) gained after announcing it would not buy any oil and would close all operations in the country including service stations; these plans will have a significant impact on the population.
Google buys, Apple’s latest launch
Google (NASDAQ: GOOGL) announced it would be acquiring Mandiant (NASDAQ: MDNT), a cybersecurity firm as the company seeks to expand into more verticals.
Apple (NASDAQ: AAPL) shares fell slightly despite announcing an expansion of its low-cost iPhones, a new high-end desktop offering complete with a new M1 Ultra chip, and the inclusion of Major League Baseball within its AppleTV offer.
Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is set to buck this negative lead from US stock markets to edge higher this morning. For a round-up of the latest news, check out my ASX 200 morning report.
