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Stocks fall as Ukraine crisis deepens, oil prices rally -Breaking

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© Reuters. An investor sits in front of the board that displays stock information in a brokerage house in Hangzhou Zhejiang Province, China, February 3, 2020. This is the first day trade began in China since Lunar New Year. China Daily via REUTERS

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SINGAPORE (Reuters – Asian shares fell on Friday morning, while oil prices jumped after a report about a reactor on fire in Ukraine caused by ongoing fighting between Russian and Ukrainian troops. Investors were further worried.

According to RIA News, the Ukrainian atomic energy minister stated that a generating unit of the Zaporizhzhia Nuclear Power Plant, which is the biggest European nuclear power plant of its type, was hit by Russian troops.

Nasdaq futures fell 1.6%, while Wall Street lost 1.8%. Wall Street fell overnight due to investors remaining on edge about Ukraine’s crisis. Market sentiment was also affected by rising commodities prices.

MSCI’s Asia-Pacific share index, which is the broadest outside of Japan, lost 0.8%. It traded close to its lows. Asia’s markets were red. Japan was down 2.3% while South Korea and Australia fell 1.4%. Australia, which relies heavily on commodities, also saw a drop of 1.2%. After ending stable a day before, oil prices rose on Friday. The market was also focused on the possibility that OPEC+ producers (including Russia and Saudi Arabia) would raise output starting in January.

Further losses were recorded by the euro, which was now at its lowest level in nine months compared to the dollar. It dropped 0.44%, to $1.1022.

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