S&P 500 futures sink 2% as Russia takes over Ukraine

• S&P 500 futures plunge near 4,120 on headlines of explosions in eastern Ukraine.
• The risk-off impulse has set the safe-haven assets on fire, dumping high-beta assets. 
• US President Joe Biden has seldom pinned Russia responsible for death and destruction in Ukraine.

The risk appetite of investors has squeezed principally in the Asian session after the expectation of an imminent war situation between Russia and Ukraine confirmed by NATO. A build of 2000k Russian troops in the Donbas region of eastern Ukraine has put Ukraine under attack. The S&P 500 futures, Asian markets, antipodeans, and other risk-sensitive assets have taken a bullet after the headlines on the Russia-Ukraine war get flooded with explosions, military troops, and nervous statements from the world leaders.

While bullions and US Dollar index (DXY) are shining higher on the risk-aversion theme and crude oil prices is gaining momentum on expectations of a serious cut in total global oil supplies.

S&P 500 futures skid near 4,120 on the headlines of explosions, which have begun sounding in the distance in Kyiv. The prayers from the entire world to support Ukraine against an unjustified attack by Russia are indicating massive havoc in the market.

Earlier, the US Secretary of State Antony John Blinken said that he believes that Russia will invade Ukraine before the night is over.

The statement is out from the White House by US President Joe Biden that Russia will be held accountable for the losses of human life and Western leaders will retaliate in unity. Adding to that, US President Joe Biden has stated ‘loud and clear that the US will come with harsh sanctions on Russia in response to its aggression over Ukraine, after discussing with the G7 counterparts.

The bloodbath in the S&P500 futures has not been completed yet. Any further negative development over the Russia-Ukraine war may keep hammering the US 500-basket futures.