Global equites fell on Monday as the prospect of a Russian attack on Ukraine intensifies weighing on major asset classes.
The U.S. State Department on Sunday said it ordered diplomat’s family members to leave Ukraine.
The SET, KOSPI and HSI closed in the red down by 0.74%, 1.49% and 1.24% respectively. While the TOPIX and CSI 300 closed marginally up by 0.14% and 0.16% respectively.
MSCI broad market index ex. Japan is down by 1.15%.
U.S. futures opened shedding loss with Dow Jones and S&P 500 down by 0.32% and 0.45% respectively. The Nasdaq100 is up by 0.77%.
Besides equities under pushback ahead of Federal Reserves rate decision and Jerome Powell news conference on Wednesday.
There is “likely a longer term rotation toward value stocks measured in quarters, not weeks” unfolding, Julian Emanuel, chief equity and quantitative strategist at Evercore ISI, wrote in a note. “Investors should retain a balanced view, staying patient in committing new capital to equities.”
Goldman Sachs Group Inc. economists on the other hand said Fed will tighten monetary policy much more aggressively this year than earlier anticipated.
Crude oil futures as well priced in geopolitical tensions into supply contrains. Brent futures inched down by 0.24% to $87.66 per barrel while WTI inched down by 0.36% to $84.80 per barrel.