German stocks opened sharply lower on Monday after Russian President Putin put the country’s nuclear forces on high alert in an effort to deter NATO supplies from being sent into Ukraine.
The benchmark DAX fell 342 points, or 2.4 percent, to 14,225 after climbing as much as 3.7 percent on Friday.
Banks led losses, with Commerzbank and Deutsche Bank both falling more than 8 percent after the U.S. Japan and other Western nations moved over the weekend to impose additional sanctions against Russia, including restrictions on access for some Russian banks to the SWIFT global bank payments system.
Amid all this, a Ukrainian delegation is meeting Russian officials for talks near the Belarus border today.
Market Analysis
DAX Tumbles As Bank Stocks Bleed
2022-02-28 09:17:30
