Sydney — Asian share benchmarks dropped on Tuesday as investors contemplated the implications of a potential imminent Russian invasion of Ukraine.
Overnight, the Dow Jones industrial average fell 0.49%, the S&P 500 lost 0.38% and the Nasdaq Composite was essentially flat, losing just 0.24 point. “There are concerns about the possibility of the biggest military action in Europe since the World War 2,” said James Rosenberg, EL&C Baillieu financial adviser. “So far, the market is just keeping a watchful eye and it doesn’t appear to have had much impact. This could change dramatically if the Russians do attack Ukraine.”
The yield on benchmark 10-year treasury notes was at 1.9753% compared with its US close of 1.996% on Monday. The two-year yield, which rises with traders’ expectations of higher Federal Reserve fund rates, touched 1.562% compared with a US close of 1.589%.
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