Markets have moved sharply lower in the last few minutes. U.S. futures, which were up for most of the day, are now in the red with Dow futures down 38 points and S&P 500 futures down 6 points.
“Russia ordered a convoy of aid trucks across the border into eastern Ukraine on Friday apparently without Kiev’s permission, raising the danger of direct confrontation with the Ukrainian military which is fighting pro-Russian rebels,” reported Reuters Dmitry Madorsky. “A Reuters witness said about 70 white-painted trucks, part of a column of about 260 that had been waiting at the border for over a week, had crossed the border and was heading towards the rebel stronghold of Luhansk accompanied by a small number of separatist fighters.”
“We consider this a direct invasion by Russia of Ukraine,” said Ukrainian state security chief Valentyn Nalivaychenko.
European markets are in the red. Britain’s FTSE 100 is down 0.4%, France’s CAC 40 is down 1.2%, Germany’s DAX is down 1.1%, Spain’s IBEX is down 0.9%, and Italy’s FTSE MIB is down 0.9%.
Asian markets closed mixed with Japan’s Nikkei down 0.3% and Hong Kong’s Hang Seng up 0.4%.
With no economic reports on the calendar, all eyes will be on the Fed’s Jackson Hole economic symposium in Wyoming on Friday. Most experts are hoping Fed chair Janet Yellen will offer a more clear explanation of what concerns her about the labour market
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