📉Stock market sell-off intensifies

3rd round of negotiations without a breakthrough, US indices at session lows

Moods deteriorated significantly during the second half of today's session. Before the US open bulls made an unsuccessful attempt to erase some of the recent losses, however red has flooded the markets again.  Also lack of breakthrough in negotiations between Ukraine and Russia weighed on sentiment. The advisor to President Volodymyr Zelensky wrote on Twitter that no progress was made during the third round of negotiations, which ended today. Admittedly, he said talks resulted in a few small steps forward in terms of humanitarian corridors. Meanwhile Russian negotiator Slutsky said, "Let us not be under any illusion that the next step of negotiations would result in a definitive result."

Major US stock indices started the session lower and are currently trading neat the session lows. It is true that the scale of sell-off in the US is still much smaller compared to European indices, but the upcoming interest rate hikes also do not encourage investors to buy shares.

U100 falls below the January 24 lows, which poses a risk that the downward correction may acclerete towards the February lows. Source: xStation5