LONDON: World stock markets tumbled, metals prices struck record highs and oil neared an all-time peak on widespread financial fallout from Russia’s invasion of Ukraine.
Frankfurt and Paris led the losses in Europe with drops of more than three percent in midday deals after Hong Kong closed down almost four percent, extending last week’s sharp drops for global equities.
Monday also saw benchmark Brent North Sea crude oil soar to a near 14-year high close to $140 per barrel.
Brent reached $139.13 before cooling to $125.57. The record high stands at $147.50, achieved in 2008 during the global financial crisis.
Elsewhere Monday, European gas prices struck record peaks on energy supply fears after the United States proposed an…
