- As the conflict over Ukraine appeared to worsen, US equities futures and European stocks fell. Russian stocks fell to their lowest levels since the global financial crisis of 2008, and the currency fell for the third day in a row.
- As the US stock market was closed for the holiday, futures on the S&P 500 and the Nasdaq 100 fell. The Stoxx Europe 600 index has dropped to its lowest point since October.
- Futures on 10-year US Treasury notes increased, indicating a continuing desire for a safe haven; the notes themselves are not trading on Monday due to the US holiday. Crude oil futures increased.
- Putin officially recognized the self-declared separatist republics that Russia backs in eastern Ukraine, intensifying a confrontation with the West as the US warns Moscow that it is planning an invasion of its neighbor.
- On Monday, Fed's Bowman backed an interest-rate hike in March, saying that while it was too early to determine whether the rise should be 50 basis-points, the topic was on the table for officials to debate.
- A report due out this week is expected to reveal that the Fed's key inflation index raced to a new four-decade high in January, bolstering the case for higher rates.
