Stocks capped off Thursday's volatile session with a tech rally that left the Nasdaq higher by more than 3% by the close, reversing a slide of more than 3% seen early in the session. The wide swings on Wall Street came as traders reacted to Russia's invasion of Ukraine.
The S&P 500 reversed an initial drop to show a 1.5% gain by the close. The late-day surge also pulled the Dow Jones Industrial Average into positive territory, rebounding from an early 800-point loss to finish more than 100 points higher on the session.
for what it is worth, but russia can impose its own sanctions on the west .. as russia exports a lot more than just oil and gas ..
well worth a read (link from someone in the politics forum)
.....Putin has the means to cut off critical minerals and gases needed to sustain the West’s supply chain for semiconductor chips, upping the ante in the middle of a worldwide chip crunch. Furthermore, he could hobble the aerospace and armaments industry in the US and Europe by restricting supply of titanium, palladium and other metals.
If he controlled Ukraine, his control over key strategic minerals would be even more dominant, giving him leverage akin to Opec’s energy stranglehold in 1973.
The Kremlin could unleash an inflation shock every bit as violent as the first oil crisis, with a recession to match. \.
