June 29, 2022

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Mixed on Wall Street - Russian Stocks Commentary

Mixed on Wall Street – Russian Stocks Commentary

All major indices on Wall Street have fallen since the start of Monday, and throughout the trading day there has been significant volatility.

This was the case of the stock exchange closing:

  • The broad S&P 500 index, which is made up of 500 of the largest US companies, was down 0.25 percent.
  • The Dow Jones Industrial Average fell 0.49 percent.
  • The technology-heavy Nasdaq Composite Index rose 0.41 percent.

Stop trading on Russian stocks

Their website showed on Monday that US stock markets Nasdaq and New York Stock Exchange decided to temporarily stop trading in shares of Russia-based companies.

The suspensions are attributed to regulatory concerns, as exchanges seek more information in light of the economic sanctions that have been imposed on Russia in recent days.

New penalties

The Biden administration announced further sanctions against the Russian Central Bank on Monday, she wrote CNBC.

The new sanctions prevent Americans from doing business that involves transactions with the bank. In addition, they froze the bank’s assets in the United States.

“We wanted to initiate these actions before our markets opened because what we learned over the weekend from our allies and partners is that the Russian Central Bank has been trying to move money, and there will be a lot of asset flight from Monday morning from institutions around,” a government representative said on a conference call with journalists.

The United States is also adding Kirill Dmitriev, another ally of Russian President Vladimir Putin, to the sanctions list, as well as the leader of the Direct Investment Fund Dmitriev.

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