Stock markets reel, oil price surges after Russia attacks Ukraine
CBSN
Global financial markets plunged and oil prices surged after Russia began its long-anticipated attack on Ukraine.
Dow stock futures fell roughly 800 points late Wednesday as investors pulled back amid concerns a prolonged conflict could push up energy prices, add to inflationary pressures and slow economic growth. S&P 500 futures dropped 2% and tech-heavy Nasdaq contracts sank 2.6%. Asia-Pacific stocks also sold off, with markets in Hong Kong and Sydney sliding 3%, while Tokyo and Seoul sank 2%.
The attack began moments after Russian President Vladimir Putin announced that he had "decided to conduct a special military operation" to protect eastern Ukraine's Donbas region. CBS News correspondents reported hearing loud blasts in the capital city, Kyiv, and in the eastern city of Kharkiv.
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