Shares dive, oil soars after Russian action in Ukraine
Beijing(AP): Stocks plunged and oil prices surged by more than 5 per barrel Thursday after President Vladimir Putin launched military action in Ukraine, prompting Washington and Europe to vow sanctions on Moscow that may roil the global economy.
Market benchmarks in Europe and Asia fell by as much as 4% as traders tried to figure out how large Putin's incursion would be and the scale of Western retaliation. Wall Street futures retreated by an unusually wide daily margin of 2.5%.
Brent crude oil briefly jumped above 100 per barrel in London for the first time since 2014 on unease about possible disruption of supplies from Russia, the No. 3 producer. Benchmark US crude briefly surpassed 98 per barrel. Prices of wheat and corn also jumped.
The ruble sank 7.5% against the dollar.
Financial markets are in a flight to safety and may have to price in slower growth" due to high energy costs, Chris Turner and Francesco Pesole of ING said in a report.
In Brussels, the president of the European Commission said Thursday the 27-nation European Union planned massive and targeted sanctions on Russia.
We will hold President Putin accountable, Ursula von der Leyen said.
In early trading, the FTSE 100 in London fell 2.5% to 7,311.69 as Europe awakened to news of explosions in the Ukrainian capital of Kyiv, the major city of Kharkiv and other areas. The DAX in Frankfurt plunged 4% to 14,047.18 and the CAC in Paris lost 3.6% to 6,537.32.
The futures for Wall Street's benchmark S&P 500 index and the Dow Jones Industrial Average were off 2%.
That was on top of Wednesday's 1.8% slide for the S&P 500 to an eight-month low after the Kremlin said rebels in eastern Ukraine had asked for military assistance. Moscow had sent soldiers to some rebel-held areas after recognising them as independent.
Putin said Russia had to protect civilians in eastern Ukraine, a claim Washington had predicted he would make to justify an invasion.
US President Joe Biden denounced the attack as unprovoked and unjustified" and said Moscow would be held accountable, which many took to mean Washington and its allies would impose additional sanctions. Putin accused them of ignoring Russia's demand to prevent Ukraine from joining NATO and to offer Moscow security guarantees.
Washington, Britain, Japan and the EU earlier imposed sanctions on Russian banks, officials and business leaders. Additional options include barring Russia from the global system for bank transactions.
Prices of benchmark US and international oils hovered near 100 per barrel.
West Texas Intermediate soared 5.86 to 97.96 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 25 cents to 92.10 on Wednesday.
Brent crude advanced 5.57 to 99.62 per barrel in London after spiking above 100. It lost 20 cents to 94.05 the previous session.
In Asia, the Nikkei 225 in Tokyo fell 1.8% to 25,970.82 and the Hang Seng in Hong Kong lost 3.2% to 22,901.56. The Shanghai Composite Index shed 1.7% to 3,429.96.
Asian economies face lower risks than Europe does, but those that need imported oil might be hit by higher prices if Russian supplies are disrupted, forecasters say.
The Kospi in Seoul lost 2.6% to 2,648.80 and Sydney's S&P-ASX 200 fell 3% to 6,990.60.
India's Sensex fell 3.4% to 55,283.65. New Zealand lost 3.3% and Southeast Asian markets also fell.
Investors already were uneasy about the possible impact of the Federal Reserve's plans to try to cool inflation by withdrawing ultra-low interest rates and other stimulus that boosted share prices.
The dollar weakened to 114.68 yen from Wednesday's 114.98 yen. The euro fell to 1.1243 from 1.1306.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
How Indian AI Is Booming with GEOX AI Leading the Next Wave of Geolocation Intelligence
TraceX Labs has announced the launch of GEOX AI, an advanced artificial intelligence platform capable of identifying the real-world location where a photograph or video was taken using only the visual content within the media.
Positioned as an enterprise-grade intelligence solution, GEOX AI leverages advanced computer vision and multi-agent AI to analyze pixel-level details such as architecture, road patterns, vegetation, signage, lighting, and environmental context. By interpreting these visual clues, the system can estimate—and in many cases precisely determine—the origin of an image or video.
AI-Powered Geolocation Intelligence
Marketed under the concept of “Locate Anywhere From Any Image,” GEOX AI is designed for intelligence operations where speed, accuracy, and reliability are critical. The platform currently supports:
- 400+ analyses available
- <10 seconds average response time
- Up to 99% accuracy on landmark-based identification
- Global coverage across diverse terrains and environments
Core Capabilities
GEOX AI integrates multiple intelligence features into a single platform:
- Precise Geolocation:
Identifies exact geographic coordinates using visual landmarks, architecture, vegetation, and cultural indicators. - Satellite Map View:
Results are plotted on live satellite imagery with 2D/3D viewing options and multiple map styles for deeper analysis. - AI Reasoning Analysis:
Provides a detailed explanation of how the system arrived at a conclusion, including confidence scoring. - Multi-Result Analysis:
Returns multiple possible locations ranked by confidence, enabling cross-verification. - Intelligence PDF Export:
Allows one-click generation of professional reports containing maps, coordinates, analysis, and structured findings. - Credit-Based Access:
Agencies are allocated credits, with each analysis consuming one credit. Additional credits can be requested directly.
Speed Meets Intelligence
GEOX AI is designed to balance rapid processing with analytical depth:
- Fast Mode: Delivers results within seconds for clear and high-context images
- Advanced Mode: Performs deeper multi-step analysis for complex or ambiguous visuals
- Built for real-time decision-making in high-pressure environments
How GEOX AI Works
The platform follows a simple and efficient workflow:
- Upload any image or video frame
- AI analyzes visual clues such as structures, terrain, and environment
- The system identifies location with coordinates, confidence score, and reasoning
- Results are displayed on an interactive satellite map
- Export a professional intelligence report in one click
A Breakthrough for Investigations
GEOX AI is expected to have wide-ranging applications across multiple domains:
- Tracking the origin of images from social media and open sources
- Supporting digital forensics and cyber investigations
- Assisting law enforcement and intelligence operations
- Helping journalists and OSINT analysts verify visual content
- Providing support in missing person cases and threat intelligence scenarios
Enterprise Access and Deployment
GEOX AI is available to verified law enforcement agencies, intelligence organizations, and authorized enterprises. Access is provided through a structured system where organizations can request credentials and define their operational use cases.
Interested users can request access via tracexlabs.com or contact contact@tracexlabs.com, with response times typically within 24–48 hours.
Privacy Debate Intensifies
The launch of GEOX AI has also sparked renewed discussion around digital privacy. By demonstrating how location data can be extracted purely from visible elements within images, the platform highlights the potential risks associated with sharing photos online without considering what those visuals may reveal.
Conclusion
With GEOX AI, TraceX Labs is entering the rapidly evolving geolocation intelligence space with a platform that combines speed, precision, and real-world usability. As artificial intelligence continues to advance, tools like GEOX AI are expected to play a critical role in shaping the future of investigations, security, and digital intelligence.
