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Massive Russian Strikes Cripple Ukraine’s Power Grid Ahead of Peace Talks

An employee works at a thermal power plant damaged by multiple Russian missile strikes, in an undisclosed location in Ukraine. Russian forces launched a sweeping overnight assault on Ukraine’s energy network, striking multiple regions just hours before planned peace discussions. The barrage targeted major cities including Kyiv and Kharkiv, damaging power stations and transmission lines that millions rely on for heat and electricity during freezing winter conditions. Ukrainian officials reported widespread outages, with emergency crews working through the night to stabilize the grid. Residential areas were also hit, leaving civilians injured and prompting renewed concerns about the humanitarian toll of the conflict. The timing of the strikes has drawn sharp criticism from Ukrainian leaders, who argue the attacks are intended to undermine the upcoming negotiations and pressure Kyiv at the bargaining table. Despite the escalation, both sides are still expected to attend the talks, thou...
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U.S. stocks open mixed and turn lower after inflation report as Fed decision looms


  • Inflation data: The U.S. cost of living increased 0.1% month over month and 3.1% year over year in November, slightly higher than expected. Core inflation was in line with estimates at 0.3% month over month and 2.3% year over year.
  • Market reaction: U.S. stocks opened mixed and turned lower after the inflation report, as investors weighed the implications for interest rates and the Fed’s policy outlook. The Dow Jones Industrial Average fell 0.43%, the S&P 500 slid 0.39%, and the Nasdaq Composite dropped 0.2% on Tuesday.
  • Fed decision: The Federal Reserve is set to announce its interest rate decision on Wednesday, with no change expected in the current range of 5.25% to 5.50%. The Fed is also expected to provide an update on its balance sheet reduction plan and its economic projections for 2024 and beyond.
  • Market outlook: The S&P 500 index is near its record high, having gained 20.4% year to date, partly on hopes of slowing inflation and rate cuts in the future. However, some analysts warn that the inflation trend is still above the Fed’s 2% target and that the central bank may have to tighten monetary policy more than expected to keep inflation under control.
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