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Stocks fall as Ukraine tensions rise; Gold gains



Published: Mon, March 3, 2014 @ 10:35 a.m.

NEW YORK (AP) — Global stocks fell sharply on rising tension over Russia’s military advance into Ukraine and the threat of possible sanctions by Western governments. Treasurys and gold prices rose as investors bought safer assets.

The Standard & Poor’s 500 index fell 16 points, or 0.9 percent, to 1,843 as of 10:15 a.m. Eastern time. The Dow Jones industrial average fell 158 points, or 1 percent, to 16,163. The Nasdaq composite dropped 46 points, or 1.1 percent, to 4,260.

Markets fell even more sharply in Europe. Germany’s DAX sank or 2.8 percent to 9,424. Britain’s FTSE 100 dropped or 1.4 percent to 6,720 and Russia’s benchmark stock index plunged 12 percent to 1,115.

Gold and bond prices rose as investors put money into safer assets. The price of gold gained $25.90, or 2 percent, to $1,347.50. The yield on the 10-year Treasury note fell to 2.62 percent from 2.65 percent late Friday.

The price of crude oil climbed $2.05, or 2 percent, to $104.64 a barrel following warnings by Washington and other governments that Russia, a major oil exporter, might face sanctions after it seized control of Ukraine’s Crimean Peninsula. The energy sector was the only one of the 10 sectors in the S&P 500 to advance.


Comments

1Jerry(517 comments)posted 9 months, 2 weeks ago

Remember how Sarah Palin predicted the current Russia - Ukraine scenerio 6 years ago? At the time, the intelligencia laughed and mocked. How are we feeling about it now??? When can we expect the apologies to start rolling in????

http://www.policymic.com/articles/839...

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2lajoci(370 comments)posted 9 months, 2 weeks ago

Sarah Palin's "prediction" about the current Russia-Ukraine "scenario" was tantamount to predicting the rising of the tide in Boston Harbor -- the question was (and is), what would she or Mitt do about it?

Predicting the obvious, on the one hand, and proposing a response, on the other, are, well, two different things.

Anyone have any clue regarding the losers' solution to the crisis?

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3Jerry(517 comments)posted 9 months, 2 weeks ago

@Iajoci

I recall that in 2008 the left wing intelligencia described Sarah Palin's predictions about Russia invading Ukrain as "far-fetched", and she was widely mocked.

How did "far-fetched" turn into "predicting the obvious"?????

There probably is no response at this point, now that it is happening. Maybe if the occupant of the Whitehouse had been smart enough to see it coming there might have been some preventative actions. I guess we'll never know, will we??

BTW - Please don't mistake me for a fan of McCain or Palin, I never was. Palin never was qualified to be president; but I remember two things (1) She wasn't running to be the president (2) She was, and still is, more qualified than Barack Obama.

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4lajoci(370 comments)posted 9 months, 2 weeks ago

Sarah originally claimed back in 2008 that if Obama was elected president, considering his stance on the Russian invasion of Georgia, that it would probably tempt Russia to invade Ukraine.

The invasion of Georgia happened on Bush's watch; are we then ready to blame it on the weakness, malfeasance, ineptness, or (choose your own word) of the Bush administration for Putin's invasion of Georgia?

When foreign countries (and foreign entities in general) do bad things, the right-wingnuts are quick to blame it on the Democrats in power. I don't remember any Democrats blaming 9/11 on Bush, or Beirut on Reagan.

But as soon as something bad happens, Democrats are immediately tarred as "weak," and that weakness is blamed for emboldening or enabling the bad guys.

Obviously, Ukraine is right next to Georgia, and may arguably be in a more critical strategic position geographically, so her comment -- "What's next? The Ukraine?" -- was, as I said, far from astute geo-political analysis.

And, by the way, Sarah Palin could not even finish a single term as governor of even Alaska, of all places.

So, please! Spare us your disparaging remarks about the relative competence of Palin over Obama.

As the half-governor of Alaska, she was in over her head; as a VP candidate (one catastrophic event away from the presidency), she was a nightmare waiting to happen.

She is one of the reality characters on the series, Faux"News," and she has no other aspirations beyond playing herself, for which she is more than amply compensated.

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