Stock markets fell and oil prices jumped on Monday as investors grew increasingly concerned about the consequences of Russia’s invasion of Ukraine.
European markets opened lower as the West continued to impose new sanctions on Russia.
At the start of trading, the UK’s FTSE 100 fell 1%, Germany’s DAX 30 2% and France’s CAC 40 2%.
Asian markets ended the day on a mixed note. Hong Kong’s Hang Seng lost as much as 1.6%, before closing down 0.2%.
Japan’s Nikkei 225 and Korea’s Kospi erased earlier losses and rose 0.2% and 0.8% respectively.
China’s Shanghai Composite rose 0.3%.
On Wall Street, Dow futures fell 490 points, or 1.4%.
S&P 500 futures fell 1.9% and Nasdaq futures fell 1.7%.
Global markets were jittery last week after Russian President Vladimir Putin launched an invasion of Ukraine, and the pain spread beyond stocks.
The Russian ruble fell 40% against the US dollar on Monday, after Western countries announced new sanctions against Russia, including the expulsion of some Russian banks from SWIFT, the high security network that connects thousands of financial institutions around the world.
The Russian ruble was last down 30%, trading at 108.7.