ECONOMY & MARKETS

U.S. and European economies are facing a heightened risk of a recession this year as Russia's invasion of Ukraine severely disrupts supply chains and causes inflation to accelerate to the fastest rate since the 1970s.

U.S. and European economies are facing a heightened risk of a recession this year as Russia's invasion of Ukraine severely disrupts supply chains and causes inflation to accelerate to the fastest rate since the 1970s.

European Union officials are examining curbing Russia's influence and access to finance at the International Monetary Fund following its invasion of Ukraine, six officials told Reuters.

Palladium extended gains on Friday, breaking above $2,800 an ounce mark en route to its biggest weekly gains in two years as concerns grew about supply shortfalls from Russia, while the war in Ukraine kept safe haven gold on firm ground.

Wall Street's main indexes fell in a broad decline on Friday as the intensifying war in Ukraine overshadowed an acceleration in jobs growth last month that highlighted the strength of the U.S.

Wall Street's main indexes lost more than 1% on Friday as concerns over the intensifying war in Ukraine overshadowed data that showed an acceleration in jobs growth last month.

Wall Street's main indexes were set to fall on Friday as concerns over the intensifying war in Ukraine overshadowed data that showed an acceleration in jobs growth last month.

Textile and leather goods' makers in Istanbul's garment district are feeling the impact of Russia's invasion of Ukraine as customers in Moscow and Kyiv have cancelled $200 million in orders in the past week, industry officials say.

Russia said it would block Facebook for blocking state media and Britain's BBC stopped reporting in the country in the face of a new media law as Moscow on Friday raised the stakes for foreign corporations over its attack on Ukraine.

Palladium extended gains on Friday, breaking above $2,800 an ounce mark en route to its best week in two years as concerns grew about supply shortfalls from Russia, while the war in Ukraine kept safe-haven gold on firm ground.

Sri Lanka's central bank sharply raised interest rates on Friday to staunch growing inflationary pressures and urged the government to consider measures including curbing non-essential imports and raising fuel prices to reduce pressure on the ailing economy.

Indika Prasanna Kumara ventures out every afternoon to try to find 200 litres of diesel for the Broadway Kids apparel factory in Sri Lanka so it can run its generators during power cuts and keep working.

Japan's economy expanded more than initially expected in the final quarter of 2021, but rising input prices likely kept wholesale inflation near a record in February in a sign of rising risks to the fragile recovery, a Reuters poll showed.

U.S. job growth accelerated in February, pushing the unemployment rate to a two-year low of 3.8% and raising optimism that the economy could withstand mounting headwinds from geopolitical tensions, inflation and tighter monetary policy.

U.S. employers hired far more workers than expected in February, pushing the labor market closer to maximum employment, but rising headwinds from geopolitical tensions could hurt business confidence and slow job growth in the months ahead.

China's so-called "common prosperity" push in the near-term will not only aim to bridge the widening wealth gap but is also set to shape the country's regulatory approach, with sectors seen crucial for the economy getting more state support.

The ballooning euro cost of oil and gas to record highs as war rages in Ukraine has prompted markets to murmur about the chances of a rare, even if unlikely, ECB intervention to bolster the euro against the dollar.

The ballooning euro cost of oil and gas to record highs as war rages in Ukraine has prompted markets to murmur about the chances of a rare, even if unlikely, ECB intervention to bolster the euro against the dollar.

Oil surged on Friday, ending the week at multi-year highs as Russia's invasion of Ukraine intensified and oil buyers shunned barrels from the world's second-largest exporter of crude.

Oil jumped 7% on Friday in a volatile session as the disruption of Russian exports from Western sanctions outweighed hopes for more Iranian supply if Washington reaches a nuclear deal with Tehran.

Data showing a vibrant U.S. jobs market strengthened the dollar and spurred commodity prices higher, but the war in Ukraine overshadowed the blowout report as the euro plunged on the worsening outlook for slower European economic growth.

Asian equities and the euro slumped on Friday after news of a fire near a Ukraine nuclear facility following fighting with Russian forces heightened investor fears about the escalating conflict and sent oil prices higher.

Asian equities and the euro weakened on Friday while oil prices jumped as investors took fright from reports of a nuclear power plant on fire amid fierce fighting between Ukraine and Russian troops.

Asian equity markets and the euro suffered heavy losses on Friday while oil prices jumped as investors took fright from reports of a nuclear power plant on fire amid fierce fighting between Ukraine and Russian troops.

Data showing a red-hot U.S. jobs market sent Treasury yields lower and strengthened the dollar on Friday, but the war in Ukraine overshadowed the blowout report as the euro plunged on expectations of slower European economic growth.

Stocks extended their losses for the week on Friday as investors piled into government bonds and gold for cover while scrutinising the latest twists in Russia's escalating invasion of Ukraine, which included seizing a huge nuclear plant.

The euro fell on Friday below $1.10 for the first time in almost two years and hit a fresh seven-year low versus the Swiss franc as the war in Ukraine lowered expectations of European economic growth.

The euro was set for its worst week versus the dollar in nearly two years, as the war in Ukraine and the prospect of sustained high commodity prices continued to drag on expectations of European economic growth.

Russia's invasion of Ukraine adds uncertainty to the U.S.