Notizia

MUMBAI (Reuters) -The Indian rupee fell to a historic low on Monday, while bond yields surged as a sharp rise in global prices of crude oil stirred concern about domestic inflation, strengthening prospects of interest rate hikes by the central bank.

European stocks hit a one-year low on Monday, with German and French shares set to confirm a bear market as the United States and Western allies weigh a ban on importing Russian oil, raising fears of a spike in inflation dragging economic growth.

Investor morale in the euro zone plunged in March in the wake of the Russian invasion of Ukraine and its implications for the global economy, a survey showed on Monday.

British clothing retailer Next is to close its Russian operations following Russia's invasion of Ukraine, joining a growing list of companies shunning the country.

The head of Japan's largest business lobby said on Monday the country's imports of Russian crude could not be replaced immediately, as global discussions gathered pace about the possibility of cutting Moscow's oil from markets.

European stocks hit one-year lows on Monday, with Germany's blue-chip index looking set to confirm a bear market as Western countries mulled a Russian oil import ban, raising the prospects of broader inflationary risks and slowing economic growth.

The euro briefly sank below parity versus the Swiss franc for the first time in seven years on Monday and held at a 22-month low versus the dollar as soaring oil prices stoked fears of a stagflationary shock that could hammer Europe.

The European Central Bank's plans to dial back stimulus have been upended by Russia's invasion of Ukraine.

The Indian rupee fell to a historic low on Monday, while bond yields surged as a sharp rise in global prices of crude oil stirred concern about domestic inflation, strengthening prospects for interest rate hikes by the central bank.