Ukraine Headlines Spooks Equity Investors; Stocks Shed Early Gains
Global equity markets went into a free-fall this afternoon and erased early gains, after reports of Russian military movements inside Ukraine spooked risk-averse investors, sending them into safety assets such as government bonds and precious metals. Early advances in equities tied to benign inflation data and better-than-expected U.S. manufacturing data were compromised amid reports that Russia was sending armored vehicles into Ukraine within its humanitarian convoys, and fighting on the border between the Ukraine army and Russian separatists.
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