European stocks fall with US equity futures; crude oil rises

European stocks fall with US equity futures; crude oil rises

Stocks















Bloomberg

A fresh wave of volatility hit global markets as the conflict in Ukraine intensified amid mounting penalties against Russia. Stocks in Europe fell along with US equity futures, while bonds gained and oil pushed sharply higher.

Utilities, car makers and travel stocks lead a decline of more than 1% in the Stoxx Europe 600 index as traders assessed the effect of sanctions. Basic resources was the only sector in the green as commodity prices extended a rally. Bayer AG gained after positive results, but warned that the Ukraine conflict poses a risk to its outlook. Futures on the S&P 500 and Nasdaq 100 declined, signalling a weak US open.

Treasury yields dipped and the dollar was steady. Bonds throughout Europe gained, with Germany’s 10-year yield dropping as much as eight basis points and spreads on peripheral notes widening. Oil rose as traders balanced the possible release of emergency stockpiles against fears of disruption to Russian energy exports.

Hopes of an early negotiated settlement faded as Russia escalated shelling overnight of key cities in Ukraine while its troops on the ground moved slowly in a large convoy toward the