Jitters on the Russia-Ukraine developments are dragging the markets to the red territory on Monday.

DowJones is dropping almost 180 pts or more than 1% amidst escalating geopolitical tensions in Crimea. The S&P500 is following suit, down 0.84% and the Nasdaq is retreating 0.91%. The greenback, in terms of the DXY, is recovering ground along with the other safe haven currencies, currently navigating beyond the 80.10 level.

Bourses in the Old Continent closed in a ‘sea of red’ following the events in Crimea with the DAX dropping 3.44% for the day and followed by the CAC40, 2.66% and the IBEX35, 2.33%. The risk aversion is taking a toll in the EUR/USD, down to the area of 1.3740/30 from ytd peaks around 1.3825 printed last Friday.

In the commodities’ space, the ounce troy of gold is rallying more than 2% around $1,350 while the barrel of WTI is up 1.70% beyond $104.00.