Stocks slide, oil jumps as Russia orders troops to Ukraine regions

SINGAPORE (Reuters) – Oil jumped to a seven-year high, safe-havens rallied and U.S. stock futures dived on Tuesday as Europe’s eastern flank stood on the brink of war after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine.

Brent crude futures rose 1.6% to $96.94, just off their overnight seven-year high. S&P 500 futures fell 1.5% and Nasdaq futures fell 2.2%. Asian stocks were also down over half a percent, while Japan’s Nikkei skidded sharply.

The Russian rouble briefly touched an 18-month low in early Asia trade on Tuesday, after Russia’s MOEX equity index had fallen 10.5% the day before.

Spot gold, in contrast, hit a new six-month top of $1,911.56. [GOL/]