The escalating crisis between Russia and Ukraine has prompted investors to brace for a bad day for Russian, Ukrainian, U.S., and global markets when they reopen on Tuesday, according to a report.
Russian President Vladimir Putin listens to a journalist's question during a joint news conference with Hungary's Prime Minister Viktor Orban following their talks in the Kremlin in Moscow, Russia, Tuesday, Feb. 1, 2022.
Analysts at the Commonwealth Bank of Australia warned that Putin's decision on the separatist regions would place a fan under the already heated tensions. In the U.S., futures pointed at a 1.8% fall on the S&P 500, and a 2.5% drop on the NASDAQ, according to Reuters. The U.S. stock market was closed Monday due to Presidents Day. GRAHAM CALLS TO ‘DESTROY’ RUBLE, ‘CRUSH THE RUSSIAN OIL AND GAS SECTOR’ IN RESPONSE TO PUTIN AGGRESSION"This step clearly increases uncertainty and thus creates further downside risk for global risk assets," said Manik Narain, head of emerging market strategy at UBS.
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