Spreadex Market Update
European stocks are set for another negative open
European stocks are set for another negative open on continued weakness in the US and escalating tensions in Ukraine. With the deadline nearing for pro-Russian separatists to leave building, Russia called for an emergency meeting over the weekend after protesters near Slovyansk escalated. According to Ukraine officials, the protests saw one serviceman killed and five wounded. Russia is now demanding the US puts pressure on Ukraine to drop the deadline set by President Oleksandr Turchynov. NATO officials urged Russia to deescalate the crisis and pull back troops from Ukraine’s boarders.
Chinese stocks fell overnight, capping the biggest five-day rally in eight weeks following worse than expected corporate earnings. The Euro was under pressure first thing Monday morning after European Central Bank President Mario Draghi said its strength requires further monetary stimulus. Oil and gold advanced during early trading as investors dived into safe heavens following worsening violence in Ukraine.
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