Global Stocks Tumble, Oil Surges As Putin Orders Russian Troops To Enter Eastern Ukraine

Global Stocks Tumble, Oil Surges As Putin Orders Russian Troops To Enter Eastern Ukraine

Share to Linkedin Global stock markets slumped while oil prices surged on Tuesday amid rising tensions in eastern Europe after Russian President Vladimir Putin ordered Russian troops to march into two pro-Russian separatist enclaves in eastern Ukraine. In Europe the pan-regional Euro Stoxx 50 index opened 1. 02% lower while the London Stock Exchange's FTSE 100 dropped 0. 39%. In Europe the pan-regional Euro Stoxx 50 index opened 1. 02% lower while the London Stock Exchange's FTSE 100 dropped 0. 39%. U. S. markets are also braced for steep losses following the opening bell as futures for the S&P 500, Dow and Nasdaq were down 1%, 1. 94% and 3. 17%, respectively, at 4. 30 am E. T. The MOEX Russia Index has been the worst hit so far, slumping more than 5% since markets opened on Tuesday. In contrast, Brent crude futures rose 3. 96%, driving oil prices up to $99. 17 per barrel amid fears that Russia's energy exports could be disrupted. The U. K. declared that it will hit Russia with a "first barrage" of economic sanctions, while the European Union will also decide on Russian sanctions Tuesday. British Prime Minister Boris Johnson stated that Russia and