Benzinga | Mar 25, 2014 12:19PM ET
Two decades after integrating Russia into international decision making, world leaders gathered at an emergency meeting and decided to remove Russia from the Group of Eight until the nation changes course in Ukraine.
In a joint statement following the meeting, the Group of Seven leaders criticized Russia for its recent actions and expressed concern about the large number of troops stationed at Ukraine’s border.
The group also called for broader economic sanctions in order to continue to hammer the Russian economy. Most expect that Russia’s ties with the global market will likely remain strained until the Kremlin backtracks on its annexation of Crimea.
h2 Top News /h2In other news around the markets:
Asian markets were in sync with Wall Street and took a step lower on Tuesday. The Japanese NIKKEI lost 0.36 percent, the Shenzhen composite lost 0.12 percent, the Hang Seng index was down 0.45 percent and the South Korean KOSPI lost 0.22 percent.
h3 European Markets/h3European markets had a rocky start; the UK’s FTSE lost 0.56 percent and the eurozone’s STOXX 600 was down 1.41 percent. Italy’s MIB fell 1.65 percent and France’s CAC 40 lost 1.36 percent
h3 Commodities/h3Energy futures were moderately lower; Brent futures lost 0.10 percent and WTI futures were down 0.07 percent. Gold lost 1.65 percent and silver was down 1.26 percent. Industrial metals were mixed with Copper up 0.80 percent, but zinc down 0.36 percent.
h3 Currencies/h3Currency markets were quiet on Tuesday; the euro was stable at $1.3839 and the pound lost 0.01 percent against the dollar. The greenback lost 0.04 percent to the yen and gained 0.04 percent against the Australian dollar.
h3 Earnings/h3Notable earnings released on Monday included:
Stocks moving in the Premarket included:
Notable earnings releases expected on Tuesday include:
Tuesday’s economic calendar will be dominated by US data including new home sales, crude stockpile data, and consumer confidence. Other notable economic releases include British RPI and eurozone trade balance.
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