The Japanese Nikkei 225 is down 2.5% early in Monday trading, and U.S. futures are lower as well as a bout of risk aversion sweeps across the globe.
S&P 500 futures are down 1.1% right out of the gate as geopolitical worries loom over global markets. Gold and U.S. Treasury futures are firmer, and the U.S. dollar is weakening against the Japanese yen, but is strengthening against the euro.
Oil futures are up 1.6%, trading around $US104.20 a barrel as investors eye the latest developments in the Ukraine-Russia conflict.
“I think from a market perspective, the most interesting thing to watch out for is the oil price,” says Bartosz Pawlowski, global head of emerging markets strategy at BNP Paribas.
“In theory it should jump, but then there hasn’t been much nervousness in recent days.”
The charts below show the moves across various markets. Across the top from left to right are S&P 500 futures, the U.S. dollar-Japanese yen exchange rate, and the euro-U.S. dollar exchange rate. Across the bottom are gold futures, 10-year U.S. Treasury note futures, and NYMEX crude oil futures.
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