(Bloomberg) — U.S. equity futures slid Monday while bonds and crude oil surged amid heightened market uncertainty after Western nations unveiled harsher sanctions on Russia for the invasion of Ukraine.
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S&P 500 contracts and those for the technology-heavy Nasdaq 100 tumbled over 2%. Crude oil and palladium jumped about 5% with an air of disarray hanging over commodity markets on fears of supply disruptions.
Rallies in a dollar gauge, gold and Treasuries underlined the demand for havens. The euro fell on worries about risks for Europe’s economy. An Asia-Pacific equity index wavered as Japanese stocks fluctuated. Cryptocurrency Bitcoin held losses after retreating below $38,000.
The stricter penalties further separate commodity-rich Russia from global finance by seeking to prevent its central bank from using foreign reserves to undermine sanctions. They also…
