Global markets smashed as Russia attacks

Market nerves turned into outright contagion after Russian President Putin attacked Ukraine mid-afternoon Sydney time. The S&P/ASX200 reacted and fell 215 points or -3%; the biggest one-day loss since September 2020. Gold stocks were the sole gainers, rising 4.3% after gold prices hit their highest level in over a year as investors flocked to safe-haven assets. Miners overall posted their worst intraday slump in five months. Despite oil rising, energy stocks retreated. Reporting season updates had to be stellar to remain positive, Nine Entertainment and NextDC eased in afternoon trade but still closed in the green. CIMIC closed up 33% after major shareholder Hochtief AG offered $22.00 per share for all remaining stock. Life360 and Appen were already down on poor reports and closed -30%, joined by double-digit losses in the tech space as investors sought safety. Our top three VODs:Six sexy stocks for sticking to your playbookWhy it’s a ‘no brainer’ to have travel exposure in your portfolioDigital and diversified: Nine Entertainment staving off inflationary cost pressures Hosted on Acast. See acast.com/privacy for more information.