After the S&P 500 entered into a correction, the Dow is now on the brink of entering correction territory. As early gains evaporated into the trading session, equities fell off the cliff across the board.
Investors were worried about Ukraine’s growing tension as Russian troops continued advancing into eastern Ukraine. Moreover, Ukraine had set sight that it is on a war footing as President Biden imposed sanctions on the company that built the Nord Stream 2 gas pipeline, transporting natural gas to Germany.
Higher commodity prices are likely to bite into growth and will significantly impact the global economy.
🎢Booking: Good progress🍏
Booking.com had registered a robust fourth-quarter result reflecting growing business travel improvement as many restrictions are easing. On a yearly basis, revenue hit $11 billion, a jump of 61% from a year ago.
While Omicron had hurt the last quarter of many activities, the CEO saw meaningful improvement in travel bookings rolling into the first quarter of 2022. So there seems to be light at the end of the tunnel for travel demand.
Pika World will be on the sideline as the market looks frosty.
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All is well.