Wall Street heads for worst quarter since 2020 – Moneycontrol

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U.S. stocks fell on Thursday on worries about the raging conflict in Ukraine and the outlook for U.S. interest rate hikes, putting the main indexes on course for their worst quarter since the pandemic crash in 2020.

Optimism around the peace talks this week faded as Ukrainian forces prepared for fresh Russian attacks in the southeast region.

The United States imposed new Russia-related sanctions, while Russian President Vladimir Putin signed a decree saying foreign buyers must pay in roubles for Russian gas from April 1.

ALSO READ: Wall Street rallies on hopes Russia, Ukraine can resolve conflict

Defensive sectors such as real estate, healthcare and utilities were the only gainers among the major S&P sectors. Utilities hit a fresh record high, set to post their best monthly performance since 2002.

The war-induced surge in commodity prices has amplified inflation worries, while a more hawkish Federal Reserve stoked growth concerns, together pushing the three…

Read Full Story: https://www.moneycontrol.com/news/business/markets/wall-street-heads-for-worst-quarter-since-2020-8303271.html

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