Asian shares were mostly lower Friday as a resurgence of Russian attacks dashed hopes for any quick end to the war in Ukraine.
Shares in electronics and energy giant Toshiba Corp. JP:6502 jumped 6.7% on news that Bain Capital might make an offer to acquire the company... TOKYO — Shares in electronics and energy giant Toshiba Corp. 6502 jumped 6.7% on news that Bain Capital might make an offer to acquire the company and take it private. Toshiba said it was not involved in any such talks.
The retreat followed a broad decline on Wall Street, which closed out its worst quarter since the pandemic broke out two years ago. The war is the biggest single factor weighing on markets, analysts say. Ukrainian President Volodymyr Zelenskyy expressed pessimism about Russian intentions and said in his nightly video address to the nation that he expected the Russian offensive would continue for some time.
The S&P 500 SPX lost 1.6% to 4,530.41. Its loss since the beginning of the year is 4.9%. The Dow Jones Industrial Average DJIA also fell 1.6%, to 34,678.35. The Nasdaq composite COMP fell 1.5% to 14,220.52. Both indexes also notched gains for March, thanks largely to a market rally in the two weeks heading into this week.
An overnight pullback slightly trimmed what have been soaring oil prices amid Russia’s invasion of Ukraine. The conflict has elevated concerns that tightened supplies will only worsen persistently rising inflation that threatens businesses and consumers globally.
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