New York: Oil prices soared and investors shifted more money into ultra-safe US government bonds as Russia stepped up its war on Ukraine.
The price of oil surged back above $100 a barrel after Russia, a major energy producer, faced further isolation and economic damage because of its invasion of Ukraine.
The rush into bonds pushed the yield on the 10-year Treasury back down to 1.77%, where it was in early February. Stock prices were mixed in the early going on Wall Street. The S&P 500 was bobbing between small gains and losses in the first few minutes of trading. European markets were lower.
AP