Boris Johnson says Russia has chosen ‘path of destruction’ after Putin launches ‘military operation’ in Ukraine
The Dow Jones erased an 859 point drop to stunningly end in positive territory at the close of the market on Thursday.
The major US indexes all rose after seeing sharp drops earlier in the day in the wake of Russia’s invasion of Ukraine.
The S&P 500 also ended the day 1.1 per cent higher, after dropping more than 2. per cent earlier in the day.
Investors seemingly took advantage of the market dip in tech, with Netflix ending up nearly five per cent, Microsoft up three per cent, and Alphabet and Meta rising by 2.5 per cent.
Earlier the price of oil has jumped to a seven-year high to nearly $105 (£78).
Brent crude is 6.6 per cent higher at $103.21 a barrel, the highest since August 2014, while US light crude has jumped 6.2 per cent to $97.75 a barrel.
Gas prices are also on the rise, up by 40 per cent, amid fears that the conflict will disrupt global supply chains.
Wall Street fell sharply at the opening on Thursday following the Russian invasion of Ukraine.
The Dow Jones Industrial Average plunged more than 800 points or approximately 2.5 per cent.
Panicked investors fled for the safety of fixed income assets as markets reacted to the worst case geopolitical scenario on the back of the impact of sky-high inflation.
In London, the FTSE 100 index plunged more than 200 points, or 2.7 per cent, upon opening on Thursday in reaction to Russia’s invasion of Ukraine, which US President Joe Biden described as “unprovoked and unjustified”.
