Futures Tumble After Reports Ukraine Nuclear Power Plant, Europe’s Largest, Is On Fire After Shelling: Live Feed
Risk assets are sharply lower, with futures and euro tumbling, offset by a flight to safety which has sent Treasuries, the dollar, yen and gold soaring, after reports that Russia has started shelling Ukraine’s Zaporizhzhia nuclear power plant Europe’s largest, which accounts for one quarter of Ukraine’s power generation, and which has caught fire.
“There is a real threat of nuclear danger in the biggest atomic energy station in Europe,” AP reports Andriy Tuz as saying Reuters reporter Phil Stewart confirmed the report in a tweet, citing local town mayor.
(Reuters) – The Zaporizhzhia nuclear power plant in Ukraine, the largest of its kind in Europe, was on fire early on Friday after an attack by Russian troops, the mayor of the nearby town of Energodar, Dmytro Orlov, said. https://t.co/HkoaYnlArq
— Phil Stewart (@phildstewart) March 4, 2022
The Ukraine’s foreign minister Dmytro Kuleba has confirms Zaporizhzhia fire, saying “If it blows up, it will be 10 times larger than Chornobyl! Russians must IMMEDIATELY cease the fire, allow firefighters, establish a security zone!.”
Russian army is firing from all sides upon Zaporizhzhia NPP, the largest nuclear power plant in Europe. Fire has already broke out. If it blows up, it will be 10 times larger than Chornobyl! Russians must IMMEDIATELY cease the fire, allow firefighters, establish a security zone!
— Dmytro Kuleba (@DmytroKuleba) March 4, 2022
Futures as noted have plunged almost 80 points on the news…
… and 10Y yields have tumbled to the mid-1.70s range.
As Bloomberg notes, traders are understandably skittish of any news, which suggests a worsening of the situation on the ground. Until there are more details which provide clarity, a defensive posture will prevail across markets.
Live feed from the NPP is below:
Tyler Durden Thu, 03/03/2022 – 19:42
