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Financial markets in London, Europe and the US are braced for a tough day of trading after the mounting crisis in Ukraine inflicted big losses on stocks in Asia Pacific on Tuesday.
The broad MSCI Asia index, excluding Japan, was down more than 2% in its worst day for a month. The Nikkei shed 1.7%, Seoul was off 1.4% and the ASX in Sydney closed down 1% as investors worried about the possibility of conflict.

Safe havens such as gold rallied. Brent crude oil, a global benchmark for Russia’s main export, was up 2% at $97.30 a barrel.
Hong Kong was worst hit, down 3%, with tech stocks especially affected in the wake of another crackdown on the sector by Beijing. Bitcoin fell 6% to $36,826, while the Russian rouble sank to a more than 15-month low.
That all paves the way for some heavy losses on the European indices as indicated by futures trade:
IGSquawk
(@IGSquawk)European Opening Calls:#FTSE 7433 -0.68%#DAX 14530 -1.37%#CAC 6718 -1.04%#AEX 724 -0.77%#MIB 25802 -0.95%#IBEX 8387 -1.20%#OMX 2135 -1.12%#SMI 11802 -0.76%#STOXX 3940 -1.16%#IGOpeningCall
New York is also set for losses later on Tuesday:
Holger Zschaepitz
(@Schuldensuehner)Nasdaq Future plunges 2.7% to the lowest level since June in global Risk-Off move after #Russia‘s Putin orders forces to separatist areas of #Ukraine following decision to recognize two self-proclaimed separatist republics in eastern Ukraine. pic.twitter.com/shTKg9KuQ9
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UK may send further defensive support to Ukraine
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UN security council members condemn Russia’s actions
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Putin’s claims about ‘peacekeeping’ operation are ‘nonsense’, says US
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