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LIC IPO, Russia-Ukraine crisis, Russia-Ukraine war, oil at $104, oil at $104, crude oil, brent crude, HUL, BharatPe, Ashneer Grover, ABG Shipyard / February 25, 2022 / 07:54 AM IST

Stock markets crash as Russia invades Ukraine

Stocks plummeted after Russia moved troops into Ukraine. The benchmark Sensex fell 2,702 points, or as much as 4.72 percent, to end trading at 54,530, the sharpest daily decline in two years. Nifty shed 4.78 percent. The declines put the indices in correction territory as they have lost more than 10 percent of their value from a recent peak. Global markets tanked as well. Safer assets like gold and government bonds surged. The price of crude oil jumped past $100.

Why it’s important: War in Europe puts pressure on the global economy already reeling from the Covid-19 pandemic and galloping inflation. Investors are fleeing from risky assets and emerging markets are likely to bear the brunt. There are fears that the Ukraine crisis will raise input and energy costs.

Crude oil prices at nearly $104 a barrel, highest since 2014