Wall Street dives again as U.S. says Russian invasion is imminent

NEW YORK, New York — Stocks fell again on Wednesday in the United States, while the U.S. dollar and other safe-haven currencies gained ground.

With U.S. President Joe Biden warning a full invasion of Ukraine by Russia is imminent, investors decided to cash in their chips.

In the final minutes of trading Wednesday, the Dow Jones industrials were down 350 points. The Nasdaq Composite was off 265 points, while the Standard and Poor’s 500 had dropped 60 points.

The euro fell sharply to 1.1305 approaching the New York Close Wednesday. The British pound shrank to 1.3542. The Japanese yen inched up to 115.00. The Swiss franc strengthened to 0.9184.

The Canadian dollar was little changed at 1.2741. The Australian dollar remained well bid at 0.7233. The New Zealand dollar performed strongly, last quoted at 0.6771.

Overseas, the FTSE 100 in London gained 0.75 percent. The CAC 40 in Paris slid 0.10 percent. The German Dax was down 0.42 percent.

In Australia, the All Ordinaries gained 51.70 points or 0.70 percent to 7,473.90.

The Kospi Composite in Seoul advanced 11.55 points or 0.43 percent to 2,718.34.

New Zealand’s S&P/NZ50 added 19.79 points or 0.16 percent, to close Wednesday at 12,134.43.

China’s Shanghai Composite rose 32.00 points or 0.93 percent to 3,489.15l

In Hong Kong, the Hang Seng jumped 140.28 points or 0.60 percent to 23,660.28.

Going against the trend, the Nikkei 225 in Tokyo shed 461.26 points or 1.71 percent to 26,449.61.