iShares’ Russia Fund Closed To Trading

MarketWatch

NYSE halts trading in iShares MSCI Russia ETF, and BlackRock supports decision

Trading in the iShares MSCI Russia ETF has been halted by NYSE Arca, as of 4 a.m. Eastern time on Friday. The ETF (ERUS) tumbled 25.5% on Thursday to a record-low close of $8.06, following MSCI Inc.’s announcement that Russia’s equity markets were uninvestable, and has plummeted 72.8% since Russia’s invasion of Ukraine started on Feb. 24. “Due to ERUS’ concentrated exposure to Russian equities, the closure of the Russian stock market and MSCI’s decision to remove Russian securities from its Emer

RealVision

Will Russia’s Invasion of Ukraine Raise Inflationary Pressures?

U.S. equity markets were mixed with just over two hours remaining in the trading day, with the Dow Jones Industrial Average and the S&P 500 Index holding small gains and the Nasdaq Composite and the Russell 2000 Index down nearly 1%. Yields on the 10-year U.S. Treasury note and the 30-year bond backed up again, as investors continue to seek safety amid the unfolding crisis in Eastern Europe. Crude oil prices slipped some, with West Texas Intermediate down 0.55% to $109.99 and Brent off 0.57% to $112.29. But grains continue to reflect rising pressures on current and future supply, with wheat up more than 7% and corn up nearly 5%. And it doesn’t appear as though Russian President Vladimir Putin is any closer to succumbing to the global sanctions regime that’s targeted the country’s oligarchs and hamstrung the lives of ordinary Russians. Indeed, missile attacks against Ukraine’s major cities are intensifying. Meanwhile, the fed funds futures market is still pricing in five interest rate hikes by the Federal Reserve, as potential inflationary pressures increase. Michael Gayed, Portfolio Manager at Toroso Investments, and Frances Coppola, who writes and speaks on banking, finance, and economics, join Real Vision’s Ash Bennington to assess the Russia-Ukraine crisis and its broader global impact.

Bloomberg

WeWork Explores Fresh Equity Raise Amid Stock Slump

(Bloomberg) — WeWork Inc. is in discussions to raise new equity, according to people with knowledge of the matter, after the co-working company’s shares fell by more than half since its October public debut. The stock plunged to a record low on the news.Most Read from BloombergUkraine Update: Israel Premier Meets Putin in MoscowUkraine Update: UN Council to Meet, Safety Corridors Set UpRussian Forces Occupy Site of Nuclear Plant as Fire ContainedUkraine Update: Russian Troops Occupy Nuclear Pla

Bloomberg

Los Angeles Mega-Mansion Sells for $141 Million at Auction

(Bloomberg) — A Los Angeles mega-mansion that was the biggest U.S. home to ever go up for auction sold for $141 million, including commissions, when bidding closed Thursday.Most Read from BloombergRussian Forces Occupy Site of Nuclear Plant as Fire ContainedUkraine Update: Russian Troops Occupy Nuclear Plant SiteUkraine Update: Russia Blocks Facebook as Media Crackdown GrowsRussia’s Rating Cut to Junk; Talks on Tap: Ukraine UpdateWall Street Is Pouncing on Russia’s Cheap Corporate DebtThe 21-be

Barrons.com

Nearly All Russian ETFs Halted in the U.S.

Don’t try to invest in Russian stocks with an exchange-traded fund. It started Friday morning, when NYSE ARCA exchange halted trading in the (ticker: ERUS), according to a press release from BlackRock, the ETF’s issuer. According to the New York Stock Exchange website, the iShares MSCI Russia ETF was halted at 3:54 a.m. Eastern time, with “regulatory concerns” given as a reason.

Reuters

Cboe halts trading in VanEck Russia ETFs

Cboe also said it was halting trading of the much smaller VanEch Russia Small-Cap ETF. Following Russia’s invasion of Ukraine, the West’s financial sanctions, and Moscow’s controls on money entering and leaving Russia, the VanEck Russia ETF has tumbled over 60% in the past week, including a 2.4% drop on Friday.

Bloomberg

U.K. Factories Halt Some Production as Energy Prices Surge

(Bloomberg) — High energy prices are forcing some manufacturers to halt production in a foretaste of what may become a more widespread shutdown that if the war in Ukraine leads to acute shortages of natural gas.Most Read from BloombergRussian Forces Occupy Site of Nuclear Plant as Fire ContainedUkraine Update: Russian Troops Occupy Nuclear Plant SiteUkraine Update: Russia Blocks Facebook as Media Crackdown WidensRussia’s Rating Cut to Junk; Talks on Tap: Ukraine UpdateWall Street Is Pouncing on

Motley Fool

SoFi Is Preparing to Roll Out Options Trading — It Could Be a Big Deal

In SoFi Technologies’ (NASDAQ: SOFI) most recent earnings call, CFO Chris Lapointe said the company’s online brokerage would soon roll out options trading, which will give investors the right to buy or sell a stock at a certain price by a certain date. Because of that diversity of offerings, it might not seem like it, but this feature within the SoFi Invest brokerage could be a big deal.

Motley Fool

Why Sea Limited Stock Plunged Again Today

Capping one of the worst weeks of its life as a stock, Sea Limited’s (NYSE: SE) share price took a more than 11% hit on Friday. The latest blow was a recommendation downgrade and a deep price target cut from an analyst at a high-profile investment bank. Joining a clutch of fellow prognosticators trimming their expectations for Sea Limited stock was Ranjan Sharma, of JPMorgan Chase unit J.P. Morgan.

Motley Fool

Why Novavax Stock Is Sliding Today

Shares of the vaccine specialist Novavax (NASDAQ: NVAX) are having another rough session today. Despite an encouraging fourth-quarter earnings report earlier this week, Novavax can’t seem to shed the perception among some investors that it simply won’t be able to compete effectively during the rapidly approaching endemic phase of COVID-19. Novavax, in turn, might experience a hefty downturn in annual sales after this year.