Issue link: https://maltatoday.uberflip.com/i/1462497
Name Current Change %Change Open High Low Prev. Value Close US MARKETS NASDAQ 13,037.49 -344.03 -2.57 13511.75 13533.78 13032.17 13381.52 EUROPEAN MARKETS FTSE 7,251.31 -246.87 -3.29 7498.18 7498.18 7243.44 7498.18 CAC 6,451.79 -328.88 -4.85 6496.25 6617.09 6433.51 6780.67 DAX 13,854.52 -776.84 -5.31 13989.41 14221.71 13826.70 14631.36 ASIAN MARKETS SGX Nifty 16,141.00 -109.00 -0.67 17052.50 17115.00 15500.50 17063.00 Nikkei 225 25,970.82 -478.79 -1.81 26281.35 26357.58 25775.64 26449.61 Straits Times 3,276.06 -116.94 -3.45 3351.24 3363.17 3248.93 3393.00 Hang Seng 22,901.56 -758.72 -3.21 23268.03 23376.37 22786.39 23660.28 Taiwan Weighted 17,594.55 -461.18 -2.55 17939.53 17939.53 17561.07 18055.73 KOSPI 2,648.80 -70.73 -2.60 2689.28 2694.55 2642.63 2719.53 SET Composite 1,662.72 -33.73 -1.99 1683.92 1690.50 1656.62 1696.45 Jakarta Composite 6,817.82 -102.24 -1.48 6912.48 6929.91 6758.86 6920.06 Shanghai Composite 3,429.96 -59.19 -1.70 3474.37 3486.98 3400.21 3489.15 24.3.2022 7 MARKETS International Markets Global Indices Trading Date: 23 March 2022 The west is going to hit Russia with more sanctions WESTERN sanctions are decimating Russia's economy and sending shockwaves through global markets. Still, there is more to come from the United States and its allies. President Joe Biden flies to Europe on Wednesday on a trip that includes meetings with EU, NATO and G7 lead- ers. On Thursday, Biden will announce "a further pack- age of sanctions," according to National Security Adviser Jake Sullivan. And that's not all. "One of the key elements of that announcement will focus not just on adding new sanctions, but on ensuring that there is a joint effort to crack down on evasion, on sanctions busting, on any attempt by any country to help Russia basically undermine, weaken, or get around the sanctions," said Sullivan. Western sanctions have crushed the ruble and prevent- ed Russia's central bank from accessing hundreds of bil- lions of dollars in reserves. They have targeted Russia's oligarchs and cover nearly 80% of its banking assets. The sanctions have helped push the price of commod- ities including oil and wheat up sharply, benefitting en- ergy and agricultural stocks while slamming airlines and travel companies. Rising inflation is also boosting bank stocks as central banks line up multiple rate hikes. Sanctions already announced by the West mean that Russia's economy will be isolated for years. The country is facing its deepest recession since the 1990s, and gross domestic product will plummet 22% over 2022, accord- ing to a forecast published by S&P Global Market Intel- ligence on Tuesday. Who is affected? • S&P also slashed its forecast for global GDP growth this year to 3.3% from 4.1%. Europe will be hit par- ticularly hard. • The United States and its allies could greatly ex- pand the number of oligarchs and business tycoons subject to sanctions. The basic idea is that doing so would encourage them to break with the Kremlin. • Some Russian banks have been hit with sanctions, but more could be targeted. The West could also hit companies that deal in insurance, manufactur- ing and transportation, to name a few sectors. Western sanctions have crushed the ruble and prevented Russia's central bank from accessing hundreds of billions of dollars in reserves