US Stock Futures Lower Amid Investor Fears Of Developing Russia-Ukraine Tensions
On Monday morning, US stock futures were lower as investors continued to keep a close eye on the developing tensions between Russia and Ukraine as well as potential Fed rate hikes.
Dow Jones Industrial Average futures climbed 60 points or 0.17%. Meanwhile, S&P 500 futures were up 0.2% and Nasdaq 100 futures increased 0.12%.
The shift follows a tumultuous week for stocks, largely pressured by fears of a Russian attack on Ukraine as well as reports of US inflation reaching its highest level in 40 years.
For the week, the Dow and the S&P 500 dropped 1% and 1.8% respectively. On Friday, the Dow fell 503.53 points or 1.43%. Meanwhile, the S&P 500 dropped 1.9% and the Nasdaq Composite saw a decline of 2.8%.
The White House has warned that a war in Ukraine could come any day now and has urged US citizens to leave the country without delay.
US National Security Adviser Jake Sullivan warned Russian forces were now "in a position to be able to mount a major military action.”
"We obviously cannot predict the future, we don't know exactly what is going to happen, but the risk is now high enough and the threat is now immediate enough that [leaving] is prudent," Sullivan said.
Over the weekend, President Joe Biden attempted to dissuade President Vladimir Putin from attacking Ukraine over a phone call. However, Biden reportedly failed to achieve a breakthrough.
