Wall Street set for worst quarter since pandemic crash of 2020

The S&P energy index was set to record its best quarter ever as oil prices jumped to multi-year highs on concerns over tighter supplies due to the war and Western sanctions on Russia

U.S. stocks edged lower on Thursday on worries about the raging conflict in Ukraine and the outlook for U.S. interest rate hikes, putting the main indexes on course for their worst quarter since the pandemic crash in 2020.

Optimism around the peace talks this week faded as Ukrainian forces prepared for fresh Russian attacks in the southeast region.

The United States imposed new Russia-related sanctions, while Russian President Vladimir Putin signed a decree saying foreign buyers must pay in roubles for Russian gas from April 1.

The war-induced surge in commodity prices has amplified inflation worries, while a more hawkish Federal Reserve stoked