Asian stocks fall, oil prices rise on Ukraine invasion fears
ABC News
Asian stock markets are lower and oil prices have risen amid concern about a possible Russian invasion of Ukraine
BEIJING -- Asian stock markets fell Monday and oil prices rose amid concern about a possible Russian invasion of Ukraine.
Tokyo's benchmark index fell by an unusually wide daily margin of 2.1%. Shanghai, Hong Kong and Seoul also retreated. Global crude prices added more than $1 per barrel in a sign of concern about possible supply disruptions.
On Wall Street, the benchmark S&P 500 index tumbled 1.9% on Friday after the White House encouraged Americans to leave Ukraine within 48 hours. Other governments including Russia were pulling diplomats and their citizens out of the country.
Russia is one of the biggest oil producers. Any military action that disrupts supplies could send shockwaves through energy markets and global industry.
