Good evening.
Markets are in risk-off mode, Russia-Ukraine tensions escalate, and the Fed bans officials from trading stocks and crypto.
Let’s dive in.
Markets
Here are today’s market moves:
What Happened?
U.S. stocks fell on Friday as investors kept a close eye on the growing tensions between Russia and Ukraine.
Markets are in risk-off mode. With geopolitical tensions and the prospect of tighter monetary policy, investors are choosing to stay on the sidelines.
Time will tell whether the current market selloff is just a temporary blip or the start of a prolonged bear market.
The U.S. stock market will be closed on Monday, Feb. 21, in observance of Presidents’ Day.
The crypto market fell on Friday, with Bitcoin trading near $40,000 and Ether near $2,800, as investors reduced their exposure to risk.
Catch Up
Facebook (Meta) has dropped out of the top 10 companies by market cap, having lost more than $500B in value since a September peak.
Fed bans officials from stock and crypto trades after series of scandals.
The U.S. said it believes Russia has decided to carry out an attack on Ukraine “in the coming days.”