Markets around the world shudder following Ukraine attack

By STAN CHOE
AP Business Writer

NEW YORK (AP) — Stocks tumbled worldwide Thursday after Russia’s attack of Ukraine sent fear coursing through markets and upped the pressure on the high inflation already squeezing the global economy. The S&P 500 sank 1.1% to continue its dismal start of the year. European stocks dropped even more, with the German DAX down 4%. Price swings for commodities were also much sharper in Europe than in the US because the continent’s economy is more closely tied to Russia and Ukraine. Bond yields fell as investors sought safety, while oil and gold rose. The conflict could send prices even higher at gasoline pumps and grocery stores.