Stocks fall; oil, wheat prices jump after 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% to continue its dismal start of the year. European markets dropped even more, with the German DAX down more than 4%. Price swings for commodities were also much sharper in Europe than in the US. Bond yields fell as investors sought safety and the price of oil soared toward $100 a barrel. The conflict could send prices spiraling even higher at gasoline pumps and grocery stores everywhere.