(Bloomberg) -- U.S. stock index futures slid as intensifying tensions between the West and Russia over Ukraine drove investors out of riskier assets.
March futures on the Nasdaq 100 index were at 13,639.50 as of 8:39 a.m. in Tokyo, compared with the underlying index’s closing level of 14,009.54 on Feb. 18. S&P 500 futures were at 4,262.75, pointing to a lower open when Wall Street trading resumes later following a holiday Monday.
“It’s a fluid situation in the evolving geopolitical thematic we see before us,” Chris Weston, Melbourne-based head of research at Pepperstone Financial Pty, wrote in a note. “Traders are currently playing defense as lower liquidity, driven by the U.S. Presidents Day holiday, exasperates moves.”
Read: Putin Orders Forces to Separatist Areas of Ukraine After Decree
Russian President Vladimir Putin recognized the self-proclaimed separatist republics Russia backs in eastern Ukraine. The U.S. and Europe condemned the step. The Biden administration has warned Russia’s troop buildup near Ukraine signals it could invade its neighbor, something the Kremlin has repeatedly denied.
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