EUFX - Russia's Military Action Shakes Markets

• Most bourses in the Asia-Pacific region were off 2-3%, while the Stoxx 600 in Europe gapped lower and is off around 3.5% in late morning dealings. It is at the lowest level since May last year.
• US futures are sharply lower, and the S&P 50 is set to extend its losing streak for a fifth session, while the Nasdaq is off for the sixth consecutive session.
• The dollar is rising against all the major currencies but the Japanese yen.
• Emerging market currencies are under pressure.
• The Russian rouble is off a little more than 2.7%, while central European currencies are down around 2.5%.

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