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Stockhouse @ the Bell: Markets Buckle as Russia Invades Ukraine

Stockhouse Editorial
6 Comments| February 24, 2022

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After Russia launched an all-out invasion of Ukraine, Canada’s main stock index tumbled even further on Thursday, but managed to mount a significant comeback to close in positive territory. Bonds and oil soared, while the financial sector lead losses, amid a sharp sell-off in global markets. The loonie dove to a two-month low.

Initial news of the attack saw many US equity index futures plunge as well, with the NASDAQ dropping more than 20% in early trading from its record closing high in November last year, on track to confirm a bear market. The major indexes also turned things around by the day's close.

Today in the Markets

TSX 20,761.93 +17.76 Click to enlarge
TSXV 826.27 -2.35 Click to enlarge
CSE 462.11 +1.91 Click to enlarge
DJIA 32,223.83 +92.07 Click to enlarge
NASDAQ 13,473.58 +436.10 Click to enlarge
S&P 500 4,288.70 +63.20 Click to enlarge

The Canadian dollar traded for 78.01 cents US compared with 78.73 cents US on Wednesday.

Crude oil prices were up 0.90 to $93.18.

The price of gold was up 15.21 to $ 1,924.12.

In world markets, the Nikkei was down 478.79 points to 25,970.82, the Hang Seng was down 758.72 points to 22,901.56, the FTSE was down 297.17 points to 7,207.01, and the DAX was down 579.26 points to 14,052.10.

Top 10 Bullboards:

Company Ticker Views
New Found Gold V.NFG 4490
Baytex Energy Corp T.BTE 4113
Theralase Technologies Inc. V.TLT 4024
Datametrex AI Ltd V.DM 2684
Bombardier Inc. T.BBD.A 2573
Whitecap Resources Inc T.WCP 2476
Theratechnologies Inc. T.TH 2393
PyroGenesis Canada Inc. T.PYR 1636
Xebec Adsorption Inc T.XBC 1277

Today in the News:

Wallbridge Mining Company Ltd. | IR.INC & VID Conferences Announce THE Mining Investment Event of the North - Canada's First Tier I Mining Conference
Novo Resources Corp. | High-Grade Gold, up to 91.16 g/t Au, Identified via Rock Chip Sampling at Station Peak, Egina District
Reklaim Inc. | Reklaim Completes Issuance of $1,640,000 Senior Secured Debentures
Neovasc Inc. | Neovasc to Report Fourth Quarter and Full Year 2021 Financial Results on March 10, 2022
NEO Battery Materials Ltd | NEO Battery Materials Announces Upcoming Webinar Briefing and Participation in South Korea's Leading Battery Show - InterBattery 2022
Rover Metals Corp. | Rover Metals Announces Acquisition of Tobin Gold Project, Winnemucca, NV, USA
NewRange Gold Corp | Newrange Gold Closes First Tranche of Non-Flow-Through Financing and Announces Flow-Through Financing
Gratomic Inc | Gratomic Inc. Ranked Among Top Performing Mining Companies by the TSX Venture 50(TM) for 2022
Belmont Resources Inc. | 4.9m @ 7.9 g/t Au; 17.7m @ 2.8 g/t Au & 1.6m @ 11.7 g/t Au New High-Grade Gold Zone Identified at Lone Star Project
Revive Therapeutics Ltd. | HAVN Life Secures Purchase Order for Controlled Substance Sale to Revive Therapeutics Ltd. for Use in Clinical Research
O2Gold Inc. | O2Gold Director Robert Allen Reiterates Commitment to Company's Colombian Gold Project
Givex Information Technology Group Limited | Givex Expands iFood Partnership to Launch iFood Card in Colombia
Biomind Labs Inc. | Biomind Labs Announces DTC Eligibility in the United States
Nextech AR Solutions Corp | Nextech AR Continues to See Strong Growing Demand For Its ARitize 3D and Metaverse Suite
Dynacor Gold Mines Inc | Dynacor Declares March 2022 Monthly Dividend
Mednow Inc. | Mednow Provides Corporate Update on Progress and 2022 and 2023 Financial Forecasts
Looking Glass Labs Ltd. | Looking Glass Labs to Acquire Development Division of LACA Solutions and Establishes APAC Web3 Office
Legible Inc Com | Legible Inc. Announces Non-Brokered Financing
Codebase Ventures Inc. | Codebase Ventures Inc. Announces First Closing of Financing
Rockland Resources Ltd. | Rockland Resources Closes Private Placement
Harborside Inc (Sub Voting) | Harborside Inc. Announces Mandatory Conversion of all Multiple Voting Shares to Subordinate Voting Shares
East Side Games Group | East Side Games Group to Develop Star Trek-Themed Mobile Game in Partnership with ViacomCBS Consumer Products

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I said a couple of days ago that wars are good for stocks. Any correction that occurs will be based on inflation that will affecting the purchasing power of consumers. When inflation causes them to max out their credit card accounts, they will be forced to sell their homes and that is when we will see a 25% correction in the markets. Now if crude edges closer to $150 a barrel that will cause a big correction as well. But it won't be because of Ukraine, it will be Canadian and American poor leade
February 25, 2022

I don't understand this.--President Vladimir Putin also appears to be obliquely threatening nuclear war against any country that intervenes to defend Ukraine. President Vladimir Putin cast aside international condemnation and sanctions and warned other countries that any attempt to interfere would lead to “consequences you have never seen.”
February 25, 2022

How long will it take before Putin is briefly looking down the barrel of a gun & then stability returns to the markets.
February 25, 2022

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