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Zelensky Urges Stronger U.S. Pressure After Strikes Freeze Kyiv

  People take shelter inside a metro station during a Russian missile and drone attack, in Kyiv. Ukrainian President Volodymyr Zelensky is calling for intensified U.S. pressure on Russia after a new wave of missile and drone strikes left parts of Kyiv without heat, electricity, and water. The attacks, which targeted critical infrastructure during freezing winter temperatures, plunged several districts into darkness and disrupted essential services. Emergency crews worked through the night to contain fires and restore power, while city officials warned residents to brace for further outages. The strikes are part of Russia’s ongoing campaign against Ukraine’s energy grid, a strategy that has repeatedly exposed civilians to dangerous winter conditions. Zelensky urged Washington and other Western partners to respond with a unified and forceful message to Moscow, arguing that only increased diplomatic and economic pressure can deter further attacks. He emphasized that the latest stri...
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S&P 500 Plummets Amid Weak Jobs Report

 


The S&P 500 experienced its worst jobs day since October 2022, as a weak jobs report fueled concerns about the health of the U.S. economy. The index fell by 1.8%, while the Nasdaq 100 and Russell 2000 also saw significant declines, dropping 2.4% and 3.5% respectively.

The disappointing jobs data has intensified fears that the Federal Reserve’s decision to maintain interest rates at a two-decade high could lead to a more pronounced economic slowdown. This sentiment was echoed by Wall Street giants like Citigroup Inc. and JPMorgan Chase & Co., who are now calling for more aggressive Fed action.

The selloff was further exacerbated by a plunge in key technology companies, with Intel Corp. experiencing a 26% drop due to a grim growth forecast. The volatility index, often referred to as Wall Street’s “fear gauge,” hit its highest level since March 2023.

As traders project that the Fed will cut rates by more than a full percentage point in 2024, the market’s focus has shifted from “when and how much will the Fed ease” to concerns about a potential economic downturn. This shift in sentiment has led to increased volatility and a flight from riskier assets.

The latest jobs figures suggest that the Fed’s policies may be cooling the labor market too much, raising questions about whether the central bank has been too slow to act. As the market grapples with these uncertainties, investors are taking money off the table and booking profits, leading to continued near-term volatility.


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