U.S. Stocks Weaker on Escalation of Russia Tensions
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U.S. stocks futures are down sharply as investors' attention turns to an escalation of Russian military action in the Ukraine and the outcry and call for sanctions from U.S. and European allies related to the "occupation."
Dow futures are down 127 to 16,180, S&P futures are down 17 to 1,840 and Nasdaq futures are down 34 to 3,662. Notably, all are off their morning lows.
U.S. and European allies agreed to isolate Russia and intact economic sanctions, demanding Russian President Vladimir Putin withdrawal from the Ukraine's Crimean region. Secretary of State John Kerry called Russia's actions "aggressive" and said "all options are on the table." Mr. Kerry will be visiting the Ukrainian capital of Kiev on Tuesday to show support for the new Ukrainian government.
In a joint statement Sunday, the G-7 said: "We, the leaders of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States and the President of the European Council and President of the European Commission, join together today to condemn the Russian Federation's clear violation of the sovereignty and territorial integrity of Ukraine, in contravention of Russia’s obligations under the UN Charter and its 1997 basing agreement with Ukraine. We call on Russia to address any ongoing security or human rights concerns that it has with Ukraine through direct negotiations, and/or via international observation or mediation under the auspices of the UN or the Organization for Security and Cooperation in Europe. We stand ready to assist with these efforts."
Russian stocks, as represented by Market Vectors Russia ETF (NYSE: RSX) are down 9.3% in early trading on the news. Russian internet giant Yandex N.V. (NASDAQ: YNDX) is down 8%.
Meanwhile, gold is up 1.5%, as represented by ETF SPDR Gold Shares (NYSE: GLD).
Dow futures are down 127 to 16,180, S&P futures are down 17 to 1,840 and Nasdaq futures are down 34 to 3,662. Notably, all are off their morning lows.
U.S. and European allies agreed to isolate Russia and intact economic sanctions, demanding Russian President Vladimir Putin withdrawal from the Ukraine's Crimean region. Secretary of State John Kerry called Russia's actions "aggressive" and said "all options are on the table." Mr. Kerry will be visiting the Ukrainian capital of Kiev on Tuesday to show support for the new Ukrainian government.
In a joint statement Sunday, the G-7 said: "We, the leaders of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States and the President of the European Council and President of the European Commission, join together today to condemn the Russian Federation's clear violation of the sovereignty and territorial integrity of Ukraine, in contravention of Russia’s obligations under the UN Charter and its 1997 basing agreement with Ukraine. We call on Russia to address any ongoing security or human rights concerns that it has with Ukraine through direct negotiations, and/or via international observation or mediation under the auspices of the UN or the Organization for Security and Cooperation in Europe. We stand ready to assist with these efforts."
Russian stocks, as represented by Market Vectors Russia ETF (NYSE: RSX) are down 9.3% in early trading on the news. Russian internet giant Yandex N.V. (NASDAQ: YNDX) is down 8%.
Meanwhile, gold is up 1.5%, as represented by ETF SPDR Gold Shares (NYSE: GLD).
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