SHANGHAI : Global stocks extended a sell-off, the dollar, gold and oil prices jumped, and U.S. Treasury yields fell on Thursday amid growing fears of a full-scale Russian invasion of Ukraine.
The crisis deepened this week after Russian President Vladimir Putin dispatched troops into parts of Ukraine, triggering sanctions from Western countries. "The markets figure Russia will now do what ever it wants given how weak the sanctions were, and are pricing in an invasion," said Ray Attrill, head of FX strategy at National Australia Bank.
While expectations of an aggressive 50-basis-point hike at the Fed's March meeting have eased, Fed funds futures continue to point to at least six rate hikes this year. [FEDWATCH]
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