Asian markets fall as global investors worry about tensions between Russia and Ukraine and upcoming Fed plans
Meanwhile, US stocks tipped dramatically as investors tried to understand a range of issues, from geopolitical tensions to an upcoming Fed meeting to the earnings season. The ongoing fear of inflation also persists.
At the low point of the session, the market was heading for its worst day since October 2020, with the Dow down over 1000 points.
Lots to digest
Investors have a lot on their plate this week.
Traders are following the situation in Ukraine closely, while fears are growing that the country may be invaded by Russia.
The news that the US and UK are pulling some staff from local embassies has led to fears of an escalation of the situation, according to Michael Hewson, market analyst at CMC Markets.
In the US, equities were trying to recover from a massive Monday liquidation stemming from growing fears of aggressive Fed austerity and fears of a Russian invasion of Ukraine, said Edward Moya, senior market analyst for America in Oanda.
He noted in a report to customers on Monday that the mood had also spread to the oil market, as “uncertainty over coordinated efforts from Russia with Ukraine and China with Taiwan could lead to increased risk aversion with sales days in the coming weeks.”
Brent oil, the global benchmark index, rose 0.7% Tuesday to $ 86.89 a barrel.
Then there is the Fed meeting, which concludes with Wednesday’s policy statement and subsequent press conference.
– CNN Business’ Anneken Tappe and Julia Horowitz contributed to this report.
