Foreign Property News | Posted by Hnin Ei Khin
Oil jumped to a seven-year high, safe-havens rallied and U.S. stock futures dived on Tuesday as Europe's eastern flank stood on the brink of war after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine.
Brent crude futures rose 4% to $97.35, their highest since September 2014. S&P 500 futures fell 2% and Nasdaq futures fell 2.7%.
European equities dropped (.STOXX) 1.3% overnight to a four-month low, while the Russian rouble tanked and Russia's MOEX equity index (.IMOEX) fell 10.5%.
U.S. markets were closed for a holiday on Monday. Australia's ASX 200 (.AXJO) fell 1.3% in early trade.
Putin on Monday recognised two breakaway regions in eastern Ukraine as independent and ordered the Russian army to launch what Moscow called a peacekeeping operation into the area, upping the ante in a crisis that could unleash a major war.
Ref: Oil leaps, stocks slide as Russia moves on Ukraine (Reuters)