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European stocks plunge, oil tops $100 as Russia invades Ukraine

Fears have grown across world markets about a major war in eastern Europe
— New York (AFP)

Russia's invasion of Ukraine sent oil prices above $100 a barrel and pummeled European equities on Thursday, while Wall Street stocks finished solidly higher after rebounding during the session.

Both Frankfurt and Paris shed as much as five percent during a brutal round of trading, as investors fled risky equities, while haven investment gold rose to over $1,923 per ounce.

"Russia's latest wave of aggression against Ukraine put a darker cloud over the global economy as higher oil threatens to exacerbate inflation risks," Joe Manimbo of Western Union Business Solutions said.

"The crisis atmosphere in Eastern Europe, meanwhile, could thrust central banks back into support mode if stocks continue to falter."

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