Markets decline as Putin threatens nuclear response to Ukraine missile strikes
Global markets fell as Russian President Vladimir Putin threatened nuclear action after Ukraine launched missile strikes deep into Russia, supported by the U.S. European stocks and bond yields dropped, while safe-haven assets like gold and the Swiss franc rose. The situation escalated when President Biden lifted a ban on Ukraine using U.S. long-range missiles. This marked a significant policy shift, increasing tensions in the ongoing conflict that began in February 2022. Concerns grew as North Korea reportedly prepared to send troops to support Russia. The conflict has already impacted the global economy, raising food and energy prices, particularly affecting Europe.