UPDATED: November 15, 2022 5:46 PM ET
According to the Associated Press, Polish media reported that two people died Tuesday afternoon after a projectile “struck an area where grain was drying in Przewodów, a Polish village near the border with Ukraine.”
Earlier reports were already circulating that Poland’s Prime Minister, Mateusz Morawiecki, convened the Committee of the Council of Ministers for National Security and Defense Affairs. It was done “as a matter of urgency,” according to government spokesman Piotr Müller.
As Polish forces are reportedly on “high alert,” some speculate that the rockets’ actual target may have been Lviv. This is a Ukrainian city roughly 100km outside of Przewodów. Nevertheless, the stock market has reacted, and broad markets have pulled back in fear of these unconfirmed reports.
While this story is developing, the S&P500 ETF (NYSE: SPY) retested lower levels from last Friday. The Dow Jones (NYSE: DIA) also slipped to levels not seen since last week. Tech stocks dragged lower, but there were still pockets of bullishness, mainly in energy and food stocks.
As a result, trending searches online and on social media sought details about “Article 5.”
What Is Article 5
As of this update, the official verdict is still undecided. A Pentagon spokesperson said the US is aware of the reported Russian missiles landing in Poland. But it cannot “corroborate reports” at this time. Meanwhile, the Polish government plans on holding a meeting at 20:00GMT (3:00 PM ET). But if you are wondering what Article 5 is, here’s the NATO verbiage on the subject:
“The Parties agree that an armed attack against one or more of them in Europe or North America shall be considered an attack against them all, and consequently they agree that, if such an armed attack occurs, each of them, in exercise of the right of individual or collective self-defence recognized by Article 51 of the Charter of the United Nations, will assist the Party or Parties so attacked by taking forthwith, individually and in concert with the other Parties, such action as it deems necessary, including the use of armed force, to restore and maintain the security of the North Atlantic area.
Any such armed attack and all measures taken as a result thereof shall immediately be reported to the Security Council. Such measures shall be terminated when the Security Council has taken the measures necessary to restore and maintain international peace and security.”
Penny Stocks To Watch
There were broader bullish trends across all energy stocks. Meanwhile, as far as energy penny stocks are concerned, a few, including Imperial Petroleum (NASDAQ: IMPP), Houston American Energy (NYSEAMERICAN: HUSA), Teekay Corporation (NYSE: TK), Camber Energy (NYSEAMERICAN: CEI), and Gran Tierra Energy Inc. (NYSEAMERICAN: GTE).
Other stocks, including farming and agriculture penny stocks. This has to do with reports citing that the rockets fell in Przewodów, hitting grain dryers. Companies like AgriFORCE Growing Systems Ltd. (NASDAQ: AGRI), Arcadia Biosciences (NASDAQ: RKDA), and S&W Seed Company (NASDAQ: SANW) saw some mid-afternoon action stemming from speculative trading.
Poland, Russian Missle News UPDATES
- Update from Mariusz Gierszewski, journalist of Radio ZET, Tweets: My sources in the services say that what hit Przewowo is most likely the remains of a rocket shot down by the Armed Forces of Ukraine.
- @PentagonPresSec: “When it comes to our security commitments and Article 5 we’ve been crystal clear that we will defend every inch of NATO territory.”
- Per TASS: the Russian defense ministry called statements by Polish media “deliberate provocation with the aim of escalating the situation.”
- US President Joe Biden spoke by phone with President Andrzej Duda of Poland from Bali, Indonesia, the White House said.
- “We decided to verify whether there are grounds to launch procedures under Article 4 of the North Atlantic Treaty,” government spokesman Piotr Muller told reporters.
- Article 4 allows NATO members to bring any issue of concern, with particular regard to security, for discussion at the North Atlantic Council.
- NATO ambassadors will meet on Wednesday at the request of Poland on basis of the alliance’s Article 4.
While more details emerge, we will update readers.