Stocks Tank Worldwide as Russia Invades Ukraine; Oil, Gold, and Dollar Surges as Investors Flock to Safe Haven

Russian missiles and airstrikes hit Ukraine’s capital, Kyiv, and more than a dozen other cities across the country Thursday. This came minutes after Russian President Vladimir Putin announced a military operation "to demilitarize and denazify Ukraine” and bring its leaders to trial.

Equities are tanking in Asia. Nikkei is down 2.15% while Hang Seng has shed 3.18%. Crude Oil has gained 4.47%. Oil prices had been rising over the last couple of months on concerns over supply as Russia is the world’s second-largest oil producer.

US President Biden called Putin’s move an unprovoked, unjustified attack in Ukraine, pledging further action against Russia. “President Putin has chosen a premeditated war that will bring a catastrophic loss of life and human suffering,” he said in a statement.

Meanwhile, the dollar, gold, and oil prices rocketed higher as Russian troops landed in Ukrainian cities on the Black Sea and Ukraine said Moscow had launched a full-scale invasion. Crude Oil has gained 4.47%. Oil prices had been rising over the last couple of months on concerns over supply as Russia is the world’s second-largest oil producer.

Putin called on Ukrainian soldiers to immediately lay down their weapons and go home, and said the responsibility for any bloodshed will be on the conscience "of the Ukrainian regime."

SENSEX is also down 2.9% and is trading at 55,574.84. Meanwhile, the NEPSE index has lost 1.01% as of now and is trading at 2,692.87.

"Now a few important, very important words for those who may be tempted to intervene in ongoing events from the outside," Putin said. "Whoever tries to interfere with us, and even more so to create threats to our country, to our people, should know that Russia's response will be immediate and will lead you to such consequences as you have never experienced in your history. We are ready for any development of events. All necessary decisions in this regard have been made. I hope that I will be heard."

-Vladimir Putin