Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

US Stocks Fall, Oil Prices Rise on Tension over Ukraine


Sat 12 Feb 2022 | 12:39 AM
Taarek Refaat

US stocks fell and oil rose on Friday, after the White House urged U.S. citizens to leave Ukraine immediately, with "the possibility of Russia's invasion of Ukraine increasing," according to Washington.

The markets reacted during a press conference of US National Security Adviser Jake Sullivan, who said that a Russian attack on Ukraine "could happen at any time", even during the current Winter Olympics in Beijing.

The "S&P" index declined by 1.5% to 4438.89 points, while the price of West Texas Intermediate (WTI) crude rose by almost 4% to reach $93.48 a barrel.

The shares of arms production companies, including "Lockheed Martin" and "Northrop Grumman", shares rose by 2.8% and 4.1%, respectively.

Investors' fears of an alleged imminent Russian invasion of Ukraine had eased in recent days, following diplomatic efforts.

Meantime, gold prices hit two-week high to records $1858 an ounce.