Dow futures sink about 500 points as Putin orders troops to eastern Ukraine
U.S. stock-index futures were headed sharply lower Monday evening as Russian President Vladimir Putin ordered the deployment of troops to separatist areas within Ukraine, after recognizing their independence, a move that some fear puts Ukraine and Russia one step closer to military conflict.
How are stock-index futures performing? On Friday, the Dow DJIA, -0.68% dropped 232.85 points, or 0.7%, to close at 34,079.18; the S&P 500 SPX, -0.72% fell 31.39 points, or 0.7%, to end at 4,348.87; and the Nasdaq Composite COMP, -1.23% declined 168.65 points, or 1.2%, to finish at 13,548.07. A so-called death cross crystallized in the Nasdaq, a bearish chart pattern.
What’s driving the market? Markets were set for big losses on Tuesday as Putin ordered forces Monday to “maintain peace” in separatist regions of eastern Ukraine. The announcement raised fears, which have kept investors skittish, that an invasion was about to materialize. Meanwhile, officials from the European Union referred to Putin’s latest moves, including the recognition of the independence of the Russian separatist Donetsk and Luhansk regions’ independence, as “a blatant violation of international law.”
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