- Stocks fell as tensions between the West and Russia over Ukraine escalated, boosting oil prices and driving investors to seek the relative safety of bonds.
- An asia-pacific share index fell to its lowest level this month, led by declines in Japan, China, and Hong Kong, where technology firms were also hit by new regulatory concerns. When trading resumes on Wall Street after the holiday on Monday, futures point to a lower open.
- Treasuries rose, as did Australian and New Zealand bonds, bringing the 10-year yield in the United States below 1.90%. The dollar rose slightly, and gold, the traditional safe haven during times of upheaval, held its gains.
- Putin recognised two self-proclaimed separatist republics in eastern Ukraine and directed the defence ministry to send "peacekeeping forces" to the breakaway regions.
- The latest moves have been condemned by the US and Europe. The Biden administration has warned that Russia's troop buildup near Ukraine portends an invasion, which the Kremlin has repeatedly denied.
- Oil prices rose as traders weighed the risk of energy supply disruptions if the situation worsened and Western sanctions were imposed.
