Japan’s Nikkei Index sank around 1.5% in early trading, while Hong Kong’s Hang Seng Index and the Shanghai Composite Index both dropped more than 0.5% before recovering later in the morning. South Korea’s Kospi, too, was down nearly 1%.
The fall followed a terrible Thursday for the Dow Jones (INDU)
, which plummeted 622 points, or 1.8% — hitting its lowest level so far this year in the process. The S&P 500 (SPX)
fell 2.1% Thursday and the Nasdaq (COMP)
was down 2.9%. All three indexes are now in the red for the week.
Investors are nervous about what a military conflict between Russia and Ukraine could mean for oil prices
and the global economy
, especially if the United States and leading nations in Europe become involved.