- After a fire broke out at a major nuclear power plant in Ukraine following bombardment by Russian troops, stocks and equity futures sank, while haven assets such as sovereign bonds surged.
- An early wave of fear knocked 3% off European share futures, but the fear subsided as investors digested the incident. European contracts fell by roughly 2%, while those for the US fell by less than 1%.
- Gold and the dollar's gains slowed, while the euro's slide came to an end. Oil was trading near $110 per barrel, reversing a 4.8% gain. Asian markets continued in the red, with Chinese technology firms dragging them down.
- The 10-year yield fell below 1.80%, indicating a rally in treasuries. The spread between two-year and 10-year yields has narrowed to its smallest level since March 2020. The flatter curve indicates that the economy is expected to slow down.
- As Russian soldiers began pounding the site on Friday, Europe's largest nuclear plant caught fire, according to Ukrainian officials. There have been calls for Russia's military to approve the establishment of a security zone.
