Update March 10 Bloomberg Markets . . .When Finance is A Weapon of War

March 9, 2022, 10:24 PM UT Updated on March 10, 2022, 11:23 AM UTC

Markets

U.S. Futures Fall on Inflation Fears as War Rages: Markets Wrap

• Oil recovers, dollar higher as traders await CPI data
• ECB meeting may give clues on central-bank response to war

WATCH: Dominic Schnider of UBS Global Wealth discuses the outlook for oil, Fed policy, and currencies including the dollar and the Chinese yuan.Source: Bloomberg

By Srinivasan Sivabalan

"U.S. equity-index futures fell amid concerns the nation’s inflation accelerated for a sixth successive month and that the Russian attack on Ukraine will continue. Bonds rallied as investors turned to the European Central Bank to gauge policy makers’ response to the war in Ukraine.

Contracts expiring this month on the S&P 500 and Nasdaq 100 indexes slid at least 0.8% each after U.S. stocks rallied on Wednesday by the most since June 2020. Europe’s Stoxx 600 gauge dropped for the fifth time in six days, and the euro slid, before the ECB’s policy decisions due this afternoon. Treasuries and the dollar advanced, while oil recovered. . ."

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Businessweek

Economics

To Punish Putin, the World Turned Finance Into a Weapon of War

Russia’s central bank became the main target on a front that could crater the country’s economy.

Illustration: Daphne Geisler

By Matthew Boesler

March 3, 2022, 5:01 AM UTC

"The European Union, the U.S., and a handful of America’s allies in Asia have responded to Russia’s invasion of Ukraine with financial sanctions unprecedented for a target Russia’s size. The steps taken to isolate it within the global financial system are aimed at punishing President Vladimir Putin by sowing chaos in his country’s economy.

In the first week of the conflict, Russia’s central bank was struggling to contain the fallout on its own side of the border, while Ukraine’s was able to maintain a semblance of stability even as it rallied global financial resources around its defense effort. . ."

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