Artemis Investment Limited – Stocks, Futures Sink as Oil Soars on Embargo Risk

HONG KONG - March 6, 2022 - PRLog -- S&P 500 contracts fell 1.5%, those for the Nasdaq 100 some 2% and European futures about 3%. An Asian stock index was on course for a bear market -- a drop of more than 20% from a February 2021 peak. Brent oil hit $139 a barrel, and West Texas Intermediate $130 a barrel, before trimming some of the rally.

Sovereign bonds and the dollar advanced, with the U.S. 10-year Treasury yield falling below 1.70%, while gold touched $2,000 an ounce.

The global economy was already struggling with high inflation due to pandemic-era snarls. The Federal Reserve and other key central banks now face the tricky task of tightening monetary policy to contain the cost of living without upending economic expansion or roiling risky assets.

More businesses pulled back on their operations in Russia, including streaming giant Netflix Inc. and social-media service TikTok, which is owned by China-based ByteDance Ltd.

The Swiss franc, a bolt hole in times of stress, retreated against the dollar after a governing board member of the Swiss National Bank said it's ready to intervene to tackle rapid strengthening.

The worries about the war overshadowed China's signal that more stimulus is on the cards after officials set an economic growth target that topped forecasts. Premier Li Keqiang vowed at the opening of the National People's Congress to take bold steps to protect the economy as risks mount.

About Artemis Investment Limited:

Originally established to assist expatriates access financial services in SE Asia, Artemis Investment Limited is a leading independent, boutique financial advisory firm which now caters to a global client base.

Based in Hong Kong for the last 60 years, we have adapted our services to account for the financial world in the 21st Century. We are a borderless company whose staff come from a variety of backgrounds but are united by one attribute, customer focus and objectives above all else.

We understand that many clients know where they want to be, but may not have the knowledge on how to get there. This is where our specialist expertise within the financial services sector is essential in providing the correct timing, opportunity and ultimately, the correct result to establish a lengthy and equitable relationship. This is something that our 20,000 + clients have learnt first-hand.

To find out more, or to sign up to the Artemis newsletter, visit https://www.artemis-hk.com