ALBAWABA – Global stocks fell and gold prices rose worldwide, Monday, in the wake of the aborted uprising by Russian mercenaries over the weekend, news agencies reported.
According to Reuters, the global stocks index, MSCI All-World, slipped 0.1 percent, led by decline in Europe, weighing on the STOXX 600 index, which fell 0.3 percent.
A capital shift towards gold, as a safe-haven investment in times of geopolitical or market turmoil, drove gold prices up 0.6 percent, to $1,932 per ounce, as per GoldPrices.org.
Futures for the S&P 500 were lower after United States (US) stocks saw their worst week since March, as reported by Bloomberg.
Russian mercenaries launched a short-lived rebellion on Saturday, seizing the southern city of Rostov. They shortly after advanced on Moscow, demanding the removal of Russian military commanders leading the war effort in Ukraine.
Wagner group then withdrew after striking a deal guaranteeing their safety and the passage of their leader, Yevgeny Prigozhin, to Belarus.
The Consequences of the uprising for the Ukraine war are not clear yet. However, the challenge to Russian President Vladimir Putin's authority was the starkest in decades of his leadership.
Naturally, investors felt safer investing in fixed-income assets and commodities, such as gold and other safe-haven assets, over equities, Reuters reported.
Market summary by Bloomberg:
Stocks
The Stoxx Europe 600 fell 0.4 percent as of 8:50 a.m. London time
S&P 500 futures fell 0.1 percent
Nasdaq 100 futures fell 0.1 percent
Futures on the Dow Jones Industrial Average fell 0.2 percent
The MSCI Asia Pacific Index fell 0.1 percent
The MSCI Emerging Markets Index fell 0.2 percent
Currencies
The Bloomberg Dollar Spot Index fell 0.1 percent
The euro was little changed at $1.0902
The Japanese yen rose 0.4 percent to 143.10 per dollar
The offshore yuan fell 0.3 percent to 7.2369 per dollar
The British pound rose 0.2 percent to $1.2741
Cryptocurrencies
Bitcoin fell 0.1 percent to $30,349.68
Ether fell 0.2 percent to $1,890.39
Bonds
The yield on 10-year Treasuries declined three basis points to 3.70 percent
Germany’s 10-year yield was little changed at 2.35 percent
Britain’s 10-year yield was little changed at 4.33 percent
