- China to 'gradually resume' seafood imports from Japan after Fukushima ban
- India minister blames dam release for flooding
- O'Rourke strikes early for Kiwis as Sri Lanka trail by three
- Deep takes two as Bangladesh totter in reply to India's 376
- Israel pounds Lebanon's Hezbollah after device blasts
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- Ashwin's 113 powers India to 376 in Bangladesh Test
- Biden opens home to 'Quad' leaders for farewell summit
- Sally Rooney returns with 30-something questions
- Wallabies sense 'massive' chance to upset All Blacks
- Taiwan questions two in probe into Hezbollah pagers
- Viral Korean Olympic shooter scores first acting role as assassin
- Farrell set for 'challenge' of downing Bordeaux in Top 14
- Springbok Etzebeth diverts attention from looming caps record
- Inter on a high ahead of Milan derby as Napoli face Juve test
- Bank of Japan leaves key interest rate unchanged
- Arnold quits after six years in charge of Australia
- Asian markets track Wall Street record to extend global rally
- Guirassy and Anton to return to Stuttgart with new side Dortmund
- Marseille bidding to continue 'almost perfect' Ligue 1 start
- Arnold quits as coach of Australia men's football team
- Harris and Oprah hold star-studded US election rally
- Allies to remember failed WWII parachute operation
- Perez leading new-look Villarreal charge against leaders Barca
- Man City face Arsenal in Premier League title showdown, Postecoglou under pressure
- Fake celebrity endorsements, snubs plague US presidential race
- Documentary brings Argentine 'death flights' to the big screen
- Strike shows challenge to Boeing 'reset' of labor relations
- World leaders to gather at UN as crises grow and conflicts rage
- How plastic pollution poses challenge for Canada marine conservation
- Scientists track plastic waste in pristine Canada marine park
- South Africa's Buhai grabs LPGA Queen City lead
- Japan inflation firms to 2.8% ahead of BoJ rate decision
- Russia's Kadyrov accuses Musk of 'remotely disabling' his Cybertruck
- Titan sub had to abort a dive days before fatal implosion: testimony
- Ohtani makes MLB history with first 50-homer, 50-steal season
- Ohtani eyes MLB history after surpassing 50 stolen bases, 49 homers
- Ohtani eyes MLB history after surpassing 50 stolen bases
- Barca downed by Monaco as Arsenal held in Champions League stalemate
- Head's 'good night at office' after century seals win over England
- Dubois seeks legitimacy with Joshua scalp
- Rate cut could lift consumer spirits before US elections
- Last-gasp Gimenez strike sends Atletico past Leipzig
- Barca stumble at Monaco after early red card
- Raya heroics save Arsenal in Champions League opener at Atalanta
- Cathay Airbus engine fire linked to cleaning: EU regulator
- Guardians beat Twins to secure MLB playoff berth
- Jihadist attack in Mali capital killed more than 70: security sources
- Alonso hails 'efficient' Leverkusen after Feyenoord rout
- Head's hundred seals Australia win over England in 1st ODI
Oil tops $110, equities sink on rising Ukraine war fears
Crude surged past $110 a barrel Wednesday and equities sank with investors growing increasingly fearful about the Ukraine war's impact on global energy supplies and the economic recovery.
Russian President Vladimir Putin's invasion of his neighbour has sent world markets into a spiral over the past week, further fraying nerves on trading floors caused by runaway inflation and tighter central bank monetary policies.
The crisis has seen numerous countries hammer Moscow with a series of wide-ranging sanctions that have isolated Russia and threaten to crash its economy.
The measures have injected a huge amount of uncertainty into markets with supplies of crucial commodities including metals and grains soaring. The price of global staple wheat is sitting at a 14-year high -- having risen 30 percent in the past month.
But the main source of unease on trading floors is crude, which has rocketed since Russia began preparing to invade. On Wednesday Brent topped $110 for the first time since 2014 and WTI followed suit hours later.
Incoming sanctions have fuelled worries that exports will be cut off from Russia, the world's third-biggest producer of the commodity.
The conflict in eastern Europe comes with prices already elevated owing to tight supplies and a strong recovery in global demand as economies reopen from pandemic-induced lockdowns.
Traders will be keeping a close eye on a meeting of OPEC and other major producers, including Russia, later in the day where they will discuss whether to ramp up output to temper the price rises, which are helping fan inflation.
In his State of the Union address, President Joe Biden said the United States would join a 30-country deal to release 60 million barrels to help temper the surge in prices, though analysts have warned such moves would likely only have a limited impact.
The oil price surge has compounded fears about inflation as it sits at a 40-year high in the United States and hurts Americans in the pocket even as the economy rebounds from the pandemic shock.
However, the Ukraine crisis has given the Fed another headache as it is forced to rethink its plans to hike interest rates to get consumer prices under control.
It had been widely expected to lift this month and then up to seven times more before the end of the year, but commentators say it will likely tone down its hawkishness for fear of damaging the recovery.
"The supply chain issues and inflationary pressures will be top of mind for many investors globally," Andy McCormick at T. Rowe Price said.
"These things will almost certainly complicate the already difficult task that central banks were facing trying to battle inflation."
And Uma Pattarkine, of CenterSquare Investment Management, told Bloomberg Television: "The market was looking at anywhere up to seven rate hikes this year -- I think it will be closer to maybe the three or four we were anticipating at the very beginning of this conversation."
Fed boss Jerome Powell's two days of congressional testimony will be closely watched this week for an idea about the bank's thinking.
Wall Street and European markets tumbled Tuesday and the losses largely flowed through to Asia, which had enjoyed two days of relative calm though the selling was not as severe.
Tokyo, Hong Kong and Manila lost more than one percent, while Mumbai shed two percent. there were also losses in Shanghai, Singapore, Taipei, Jakarta, Bangkok and Wellington. However, Sydney and Seoul eked out marginal gains.
- Key figures around 0710 GMT -
Brent North Sea crude: UP 5.9 percent at $111.11 per barrel
West Texas Intermediate: UP 6.5 percent at $110.18 per barrel
Tokyo - Nikkei 225: DOWN 1.7 percent at 26,393.03 (close)
Hong Kong - Hang Seng Index: DOWN 1.7 percent at 22,373.40
Shanghai - Composite: DOWN 0.1 percent at 3,484.19 (close)
Euro/dollar: DOWN at $1.1101 from $1.1126 late Tuesday
Pound/dollar: DOWN at $1.3290 from $1.3326
Euro/pound: UP at 83.53 pence from 83.46 pence
Dollar/yen: UP at 115.17 yen from 114.90 yen
New York - Dow: DOWN 1.8 percent 33,294.95 (close)
London - FTSE 100: DOWN 1.7 percent at 7,330.20 (close)
W.Lapointe--BTB