As the conflict escalated on Friday, the late rally of Wall Street enjoyed a dramatic reversal late in the day as the U.S. President Joe Biden unveiled new sanctions, targeting Russia's ability to do business in the world's major currencies, along with measures against banks and state-owned enterprises. The sanctions, coordinated with G-7 allies, were welcomed by investors and caused the intensive rise of the EU stocks as well.
Oil prices initially fell back sharply but were back above $100 a barrel in early European trading.
Gold price bears another highly volatile day, as investors sentiment strives for the safe-havens.
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