- Stocks and U.S. equity futures fell, while havens such as sovereign bonds rose, amid fears of a global inflation shock as oil soared on the prospect of a ban on Russian crude supplies.
- Contracts for the S&P 500 fell 1.5%, those for the Nasdaq 100 fell 2%, and European futures fell 3%. An Asian stock index was on track for a bear market, with a drop of more than 20% from its peak in February 2021. Brent oil peaked at $139 per barrel, and West Texas Intermediate peaked at $130 per barrel, before reversing some of the rally.
- US Secretary of State Blinken stated on Sunday that the United States and its allies are considering a coordinated embargo in response to Russia's invasion of Ukraine, while ensuring adequate global supply. High energy prices are threatening to halt global growth, causing market tremors.
- Grain, metals, and energy prices have risen on fears of supply disruptions as a result of Russia's invasion and sanctions, which have turned the commodity powerhouse into a global pariah. Palladium and copper have reached all-time highs.
- The euro fell, reaching parity with the Swiss franc for the first time since 2015, as investors worried about Europe's reliance on Russian energy. Sovereign bonds and the dollar rose, with the 10-year treasury yield falling below 1.70% and gold reaching $2,000 per ounce.
