In Asian Equity Markets Australian stocks closed 3 percent lower on Thursday, recording their worst day in nearly one-and-a-half years, as geopolitical tensions heightened after Russian forces fired missiles at several Ukrainian cities and landed troops on Ukraine’s south coast, according to officials and media reports. The S&P/ASX 200 index ended at 6,990.6. MSCI’s broadest index of Asia-Pacific shares outside Japan fell more than 3.2 percent to its lowest level since November 2020. Tokyo’s Nikkei was 2.1 percent lower and Chinese blue chips lost 2 percent.

In Currency Markets the dollar was up on Thursday morning in Asia, with the euro weakening and increased demand for safe-haven currencies as concerns of an imminent Russian invasion of Ukraine intensify. The U.S. Dollar Index was up 0.41 percent to 96.580. Against the Japanese yen, the dollar edged down 0.16 percent to 114.78. The euro fell as much as 0.26 percent to $1.12750, its lowest level since Feb. 3. It also fell 0.29 percent to 129.640 yen, near the low of 129.360 hit on Tuesday. The single currency also fell 0.22 percent to 1.03550 francs.

In US Equity Markets major indexes ended sharply lower on Wednesday, extending their recent rout as Ukraine declared a state of emergency and the U.S. State Department said a Russian invasion of Ukraine remains potentially imminent. The Dow fell 1.38 percent, to 33,131.76, the S&P 500 lost 1.84 percent, to 4,225.5 and the Nasdaq Composite fell 2.57 percent, to 13,037.49. The information technology sector lost 2.6 percent and was the biggest drag on the S&P 500.  In company news, shares of Lowe’s Cos Inc ended slightly higher after the company raised full-year sales and profit forecasts.

In Commodities Markets oil prices steadied on Wednesday, holding below 2014 highs, as U.S. officials indicated escalation between Russia and Ukraine was unlikely to result in sanctions on energy supplies from Russia, one of the world’s top oil producers. Brent crude remained unchanged, settling at $96.84 a barrel. U.S. WTI crude futures ended up 19 cents to $92.10 a barrel. Spot gold gained 0.4 percent to $1,906.58 per ounce. Silver rose 1.6 percent to $24.47 per ounce and platinum advanced 1.1 percent to $1,087.20. Palladium rose 4.5 percent to a near six-month peak.

In European Equity Markets stocks ended lower on Wednesday as concerning headlines regarding the Russia-Ukraine conflict dampened sentiment, while modest Western sanctions on Russia and strong corporate earnings updates helped limit further losses. The pan-European STOXX 600 index fell 0.3 percent, after it firmed 1 percent in early trading with banks, financial services firms and retailers leading declines. Barclays gained 3.1 percent after its annual profit nearly trebled and the British lender returned 2.5 billion pounds ($3.40 billion) to shareholders in 2021.

In Bond Markets treasury yields rose on Wednesday as Western countries unveiled more sanctions against Russia over its move into eastern Ukraine, but bond investors remained mainly concerned about inflation and a potential Federal Reserve policy mistake. The yield on benchmark 10-year U.S. Treasury notes rose 2.6 basis points to 1.974 percent. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 0.5 basis points at 1.592 percent. The breakeven rate on five-year U.S. Treasury Inflation-Protected Securities (TIPS) was last at 2.976 percent.