Dow Jones Industrial Average futures down about 800 points in pre-market trading; Lowest since November.
The market had just started to rise up after Covid-19 but Russia’s invasion of Ukraine looks imminent.
Russia has attacked Ukraine and looks desperate to shake them further with more shelling and aggression as suggested by Biden.
After the US had harsher restrictions on the way, European countries imposed severe sanctions on Russia.
The global market is trembling as US crude oil prices leapt 8% to above 99$. Given that Russia is a major exporter of Crude oil.
The prices of wheat, corn and other essential commodities continue to surge along with Gold and natural gas.
Other countries indicate the same trend as the US as Germany's Dax off 4.8% and Asia's Hang Seng off by 3.2%. Russia's Moex index crashed 30%.
Tesla (TSLA) was the worst performer. But eBay (EBAY), NetApp (NTAP), Live Nation (LYV) reported earnings.
Investors are looking for Bond yields that can offer safer returns than Stocks and other riskier bets.
The near future looks bleaker if some diplomatic solutions don't pacify Russia's conflict with Ukraine and avert the bloody invasion.