Dow Jones futures fell sharply Monday afternoon, along with S&P 500 futures and Nasdaq futures. Russian President Vladimir Putin recognized two separatist regions of Ukraine as independent, sending in Russian troops. The U.S. and other Western leaders condemned the move, promising limited sanctions for now.
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Futures turned positive Sunday night when the White House said President Joe Biden had agreed “in principle” to a summit with Russia’s Putin. Initial enthusiasm for a Biden-Putin summit faded as Russia said there were “no concrete plans” yet.
The stock market rally suffered significant damage last week, with the major indexes below key support and starting to move toward their Jan. 24 lows. Ukraine invasion fears are weighing heavily on the market rally, which is already dealing with inflation and other big headwinds. Investors should take a defensive posture with…
