Dow Futures Fall More Than 500 Points as Traders Assess Ripple Effects of Russia Sanctions
EU Says It Will Fund Arms Deliveries to Ukraine and Hit Putin With New Sanctions, Including a Ban on Russian State Media
"Some Russian banks being removed from SWIFT and the freezing of the Russian central bank's access to its foreign currency reserves held in the West clearly increases economic tail risk," said Dennis DeBusschere of 22V Research. The Russian ruble was set to tumble at least 19% with banks offering it at about 100 rubles per dollar, according to Reuters. It closed Friday at 84 rubles per dollar.
The Nasdaq Composite is still in correction, about 15% from its record close. The Dow and S&P 500 are just outside of correction territory.
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