Jittery investors are pulling money out of riskier assets in favor of more stable investments like bonds and gold.
Financial markets dived around 1:30 p.m. Eastern time, with losses for the S&P 500 nearly tripling in about half an hour. Similar downdrafts swept through other markets as investors pulled money out of riskier assets like stocks in favor more stable investments like bonds and gold.
Tensions have been simmering for a while about possible military action by Russia, and U.S. national security adviser Jake Sullivan said Friday that the U.S. did not have definitive information that Russian President Vladimir Putin had ordered an invasion. But he also said that"the threat is now immediate enough that prudence demands that it is the time to leave now" for Americans in the country.based at Fort Bragg, North Carolina, to Poland, according to a senior defense official.
For bonds, it's a sharp U-turn for yields after steadily marching higher on expectations that the Fed will raise rates more often and by a sharper degree this year than expected. Just a day earlier, the 10-year yield topped 2% for the first time since 2019. Much of the market's volatility in early 2022 has centered around events related to the Fed and inflation. Besides Thursday's report on inflation, other flashpoints included the release of the minutes of a Fed policy meeting that said it may reverse its bond-buying program earlier than expected.
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