Stock Market Today: Overseas Stocks Wobble as Russia-Ukraine Tensions Simmer

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Vladimir Putin and Joe Biden have agreed in principle to a summit in Europe.

AFP via Getty Images

Global stocks wobbled on Monday as tensions remained high over the Russian military buildup on Ukraine’s border, with officials in the West continuing to fear an imminent war in Eastern Europe.

The pan-European

Stoxx 600
index was down 0.1%, while bourses in Asia ended the trading day broadly lower. Tokyo’s

Nikkei 225
declined 0.8%.

U.S. stock and bond markets are closed Monday in observance of Presidents Day, but U.S. stock market futures continue to trade. Futures for the

Dow Jones Industrial Average
were 60 points or 0.2% higher; the index tumbled 232 points Friday to close at 34,079.

S&P 500
futures were 0.1% into the green but futures for the

Nasdaq
were 0.1% lower.

Attention remains squarely focused on the prospect of Russia invading Ukraine. Russian troops have massed at the country’s borders in recent weeks amid Moscow’s objections to Ukraine’s possible membership in Nato, the Western defensive alliance.

Sentiment is being driven largely by headlines. U.S. officials said Sunday that they believed Russia had decided to invade Ukraine, which helped push stock market futures lower. An announcement of plans for President Joe Biden to meet Russian counterpart Vladimir Putin helped inject some optimism back into markets.

“The move into positive territory only came about due to an agreement in principle for U.S. President Biden and Russian President Vladimir Putin to meet to avert a further slide into hostilities,” noted Michael Hewson, an analyst at broker

CMC Markets
.
“The meeting was agreed on the basis that Russia stays out of Ukraine.”

“With markets already on edge…

..

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