Euro Slides as Investors Fret Ukraine Crisis Will Hit Economy

A Euro banknote is seen placed on U.S. Dollar banknotes in this illustration taken on Nov. 28, 2021. Dado Ruvic/Illustration/Reuters

LONDON—The euro plunged to its weakest since May 2020 on Wednesday as investors worried about the impact of an escalating conflict in Ukraine on the region’s economic prospects, while demand for dollars rose as nervous traders looked for safety.

The common currency fell half a percent to as low as $1.1069.