Putin’s decision regarding the separatist regions of Ukraine hit global markets. US futures accompanied the sharp declines in Asian markets.

Global markets were shaken by the decision of Russian President Vladimir Putin regarding the separatist regions of Ukraine.

The strong selling wave in Asian markets was also observed in US futures. S&P 500 futures fell close to 2%, while Nasdaq futures fell more than 2%. The Hong Kong Hang Seng index fall in Asia exceeded 3 percent. Gold and Japanese yen rose with safe-haven purchases. Gold saw $1,914.

Russian President Vladimir Putin officially recognized the two pro-Russian separatist governments in eastern Ukraine, and the tension in Ukraine has escalated again. The United States and the European Union quickly condemned the decision. US President Joe Biden has issued a decree banning all commercial and financial relations of US individuals and institutions with these two regions.

French President Emmanuel Macron also called for sanctions against Russia for this decision.