Energy Secretary Jennifer Granholm tweeted that the Zaporizhzhia plant’s reactors were protected by robust containment structures and were being safely shut down. Authorities said the blaze was safely extinguished. Russian forces gained ground, shelling Europe’s largest nuclear power plant and causing a fire early Friday as they pressed their attack on a crucial energy-producing Ukrainian city. France’s CAC 40 fell 5%, Germany’s DAX lost 4.4% and the FTSE 100 in London fell 3.5%. In Europe, whose economy is much more closely tied to the conflict because of its dependence on oil and natural gas from the region, the losses were sharper. Occidental Petroleum vaulted 17.6% for the biggest gain in the index. Among the gainers were utilities, health care stocks and companies that can benefit from higher oil prices. Apple fell 1.8% and JPMorgan Chase slid 2.8%. In the benchmark S&P 500, more than 60% of stocks fell, with technology and financial companies weighing down the index the most. The Dow, which slid initially more than 500 points, ended down 179.86 points to 33,614.80. The S&P 500 fell 34.62 points to 4,328.87, and is now down just under 10% from its record set early this year. Such concerns helped drag stocks sharply lower in the early going, though the indexes pared their losses by the end of the day.
Those high costs can be a boon for oil producers and farmers, but not for everyone else.” “Higher fuel and food costs can eat into consumers’ budgets. crude oil prices climbed above $115 per barrel amid worries about pressure on supplies because of the Ukrainian war. “The tricky part is the future, not the past,” he said, as U.S. “The COVID recovery was in full bloom in the jobs report,” said Brian Jacobsen, senior investment strategist at Allspring Global Investments. While that’s discouraging for workers hoping to keep up with rising prices at the grocery store, for economists and investors, it means less risk the economy may be headed for what’s called a “wage-price spiral.” In such a reinforcing cycle, higher wages for workers would cause companies to raise their own prices even higher. On the inflation front, growth in wages for workers was slower last month than economists expected. Stacey Abrams reaches millionaire status before 2nd campaign
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