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Global markets follow negative course due to geopolitical risks

While the selling pressure has increased in global stock markets after Russia has recognized Ukraine's breakaway regions of Donetsk and Luhansk, the ongoing Russia-Ukraine crisis and the intensified data calendar are expected to affect Tuesday's pricing.

On Monday, Russian President Vladimir Putin signed a decree recognizing the pro-Russian separatist regions in eastern Ukraine.

The US strongly condemned Moscow's decision and banned investment, trade and financing to and from the so-called People's Republics of Donetsk and Luhansk.

The UN Security Council, which convened an emergency meeting last night, said the Russia-Ukraine crisis reached a dangerous point and developments risking a great conflict should be prevented at all costs.

Ukrainian President Volodymyr Zelensky said Russia is responsible for the consequences of the decisions taken, while Turkiye rejected the move, calling it "unacceptable".

While commodity prices, especially wheat, oil and gold, increased due to the increasing geopolitical risks following the recent developments, the new day started with a sharp decline in Asian stock markets, and US and European indices futures.

The barrel price of Brent oil tested the highest level of a week with $95.1, while gold saw an eight-month high at $1,914 per ounce.


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