Stock futures turned lower on Friday to add to losses after a sell-off on Thursday, with geopolitical tensions ramping further to contribute to a further risk-off tone in markets.
Contracts on the S&P 500 turned lower after rising earlier during the overnight session. The index dropped more than 2% a day earlier, while the Dow dropped 1.8% for its worst day in nearly three months. The CBOE Volatility Index (VIX), or “fear gauge,” spiked back above 28 Friday morning.
The souring in sentiment came after U.S. officials said they estimated Russia had built up around 190,000 military personnel near Ukraine, raising the specter of a near-term attack. And this came a day after President Joe Biden told reporters on Thursday that the threat of a Russian invasion of Ukraine was “very high” in the coming days. Crude oil prices fell Friday morning to pause a recent run-up even as Russia-Ukraine…
