During Wednesday's trading hours, the US Dollar index surged, as it hit a new high at 97.83 and approached June 2020 high levels.
Hedge funds and asset managers announced this week that they would continue to decrease their asset allocations in Russia, as sanctions were set on the country.
Throughout this week, various container shipping lines announced that they would stop the booking to and from the Russian Federation.
In January, US goods trade deficit increased to 7.10%, as imports increased by 1.70% and exports declined by 1.8%.
The President of Atlanta Federal Reserve Raphael Bostic stated this week that the Fed could increase rates by a half percent on March 15.
This week, Chevron announced that the company would be acquiring the biodiesel producer Renewable Energy Group for a sum of $3.15 billion.
During Tuesday's trading hours, crude oil price benchmarks gained more than 10.00%, as US Light Crude oil reached above $105.00. The surge was fuelled by ongoing conflict in Ukraine and OPEC+ announcing that the cartel would stick to its previous plan, despite recent events.
During the first half hour of Tuesday's US trading hours, the stock price for Alcoa Corporation jumped by more than 11.00%. The surge was attributed to a spike in aluminium prices, which is the main product of the company.
Panasonic announced this week that the company would begin to mass produce new Tesla batteries by the end of March of 2024.
During this week, crude oil price benchmarks continued to surge, as pressure on Russian exports increased.
On Monday, South Korea announced that it would ban strategic exports to Russia and join SWIFT sanctions against the country.
The European Central Bank announced this week that the Russian Sberbank subsidiaries in Europe are most likely going to fail.
On Monday, the Bank of Russia hiked interest rates up to 20.00%, as the bank tries to combat the currency fallout occurring due to the ongoing conflict in Ukraine.
On Friday, a US judge ruled that Johnson & Johnson could keep its subsidiary in bankruptcy, which would allow the company to avoid 38,000 lawsuits over baby powder and talc products.
The US Federal Reserve announced on Friday that wages could continue to grow unless a lack of workers subsides. A rise of wages would most likely fuel inflation.
On Friday, various automakers revealed that they would shut down or move away their Russian based production.
Catherine Mann, a Policymaker at the Bank of England revealed that she had voted for a 0.50% increase of interest rates due to expectations of inflation to remain high.
The Chief Economist of the European Central Bank stated last week that the conflict in Ukraine might reduce the Euro Zone's GDP by 0.3%-0.4%.
The National Bank of Canada announced that it had beat its quarterly earnings forecasts. The bank's stock surged on the news.
On Friday, European Union officials announced that the union would prepare a third round of economic sanctions on Russia.
U.S. stock indices fell over 1%, led by losses in bank equities. All 11 key sectors of the S&P 500 index fell, with financial stocks (.SPSY) plunging 2.9 percent, while technology (.SPLRCT) and consumer discretionary stocks (.SPLRCD) both losing more than 1%.
Volkswagen AG and its major shareholders announced on Tuesday that they have finished preparing preliminary documents for the planned Porsche's initial public offering with the expected valuation of $50-100B.
Dave Ramsden, the Bank of England Deputy Governor, stated on Tuesday that interest rates should be increased again to 0.75% due to increased uncertainties caused by the pandemic and armed conflict in Eastern Europe.
In January, new electric vehicle sales in China plummeted by 18.6%, as the government cut subsidies to electric vehicles.