Mar 03, 2014
By Scott Walker
The crisis in Ukraine is sending financial markets into a tailspin.
Russia’s markets have dropped about 10 per cent and its currency has fallen to its lowest point ever against the dollar and the euro.
Asian markets fell about 1.5% and Germany’s DAX is down 2.75%. London’s FTSE is not quite so pessimistic, losing 1.6% as of 8:30 AM Eastern time.
North American stock futures are also indicating losses today.
Possible sanctions against Russia could impact the supply of oil, since Russia is one of the world’s largest exporters. The price of crude had increased more than two per cent to more than $104.75 a barrel this morning.