European markets set to fall sharply at the open as Russia-Ukraine tensions rise

Key Points

• European stocks are expected to open sharply lower on Tuesday as global markets are shaken by developments in the Russia-Ukraine crisis.
• The U.K.’s FTSE index is seen opening 67 points lower at 7,413, Germany’s DAX 264 points lower at 14,451, France’s CAC 40 down 94 points at 6,680 and Italy’s FTSE MIB 405 points lower at 25,622, according to data from IG.

LONDON — European stocks are expected to open sharply lower on Tuesday as global markets are shaken by developments in the Russia-Ukraine crisis.

The U.K.’s FTSE index is seen opening 67 points lower at 7,413, Germany’s DAX 264 points lower at 14,451, France’s CAC 40 down 94 points at 6,680 and Italy’s FTSE MIB 405 points lower at 25,622, according to data from IG.

Global markets are reacting to the latest news from Europe after Russian President Vladimir Putin ordered troops into two breakaway regions of eastern Ukraine. The move came after he announced Monday evening that he would recognize their independence.

The decree formalizing the move called for “peacekeeping” forces to enter the self-proclaimed and pro-Russian republics of Donetsk and Luhansk, which are in the Donbas region of eastern Ukraine.

That announcement was followed by news that U.S. President Joe Biden was set to order sanctions on the separatist regions, with the EU pledging to take additional measures.

U.S. stock futures fell sharply on Monday night, as traders continue to monitor brewing tensions between Russia and Ukraine. Markets in Asia also fell overnight, with Hong Kong’s Hang Seng index leading losses regionally, falling 3.11% in afternoon trade.

Earnings come from HSBC, Fresenius, Antofagasta and IHG on Tuesday with data releases including the latest business climate survey from Germany’s Ifo Institute.

Source : CNBC