Global Markets Fall After Russia Orders Troops Into Ukraine

Shafaq News / Global stock indexes and U.S. futures fell, while crude-oil futures climbed after Russian President Vladimir Putin ordered troops into two breakaway areas of Ukraine, bringing fears of all-out war to their highest level so far.

U.S. stock futures fell sharply for a second day, meaning indexes are on course for losses when markets reopen following the Presidents Day holiday. Futures on the S&P 500 fell 1.8%, following a 2.1% loss Monday. Futures for the technology-heavy Nasdaq-100 declined 2.6%, adding to Monday’s almost 3% fall.

Russia’s benchmark MOEX stock index fell 3.5%, adding to Monday’s 10.5% drop, which was its biggest daily percentage decline in almost eight years. The ruble edged higher against the dollar, after falling to its lowest level since February 2020.

European indexes fell in early trading, with the pan-continental Stoxx Europe 600 down 1.4%. Asia’s benchmark indexes also retreated, with Hong Kong’s Hang Seng indexes down 2.7% and Japan’s Nikkei 1.7% lower.

Investors worry that conflict between Russia and Ukraine—and heightened tension between Moscow and the West—could disrupt supplies of oil and some other key commodities. That could add further impetus for central banks to act forcefully to bring inflation back under control.

Source: The Wall Street Journal