European stocks are seen opening sharply lower on Tuesday after Russian President Vladimir Putin recognized two breakaway regions in eastern Ukraine as independent entities and ordered the army to launch what Moscow called a peacekeeping operation into the area.
The moves drew U.S. and European condemnation and vows of new sanctions during a UN Security Council meeting.
Asian markets tumbled, with key indexes in Australia, China, Nikkei, India, South Korea and Hong Kong falling 1-3 percent.
U.S. stock futures dived, with Nasdaq Composite futures falling more than 3 percent as trading resumes later in the day after a holiday.
The dollar index eased amid a decline in U.S. Treasury yields, helping gold prices hit a nine-month high.
Oil prices jumped more than $2 in Asian trading due to nervousness of possible disruption of exports from major oil producer Russia.
European stocks closed lower on Monday after the Kremlin said it was too early to discuss organizing a summit between the Russian and American presidents.
The pan European Stoxx 600 dropped 1.3 percent. The German DAX lost 2.1 percent, France’s CAC 40 index gave up 2 percent and the U.K.’s FTSE 100 eased 0.4 percent.
European Markets Likely To See Gap-down Opening
2022-02-22 05:42:22
