Dow Jones futures will open on Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market rally suffered significant damage last week, with the major indexes below key support and starting to move toward their Jan. 24 lows.
Fears that Russia will invade Ukraine are weighing heavily on the market rally, which is already dealing with inflation and other big headwinds. The uncertainty over what Russian President Vladimir Putin will do adds significantly to the volatility.
President Joe Biden said late Friday that he is confident that Putin has decided to invade Ukraine within the next few days. In a later tweet, he explained why the U.S. is proclaiming Russia’s intentions in advance. “We’re calling out Russia’s plans. Not because we want a conflict, but because we are doing everything in our power to remove any reason Russia may give to justify invading Ukraine.”
Other U.S. and NATO officials say Russia has continued to build up troops near the Ukraine border. That’s despite Kremlin claims that some troops are pulling back.
Cease-fire violations between Ukraine and pro-Russian separatists have surged in the past couple of days. Separatist leaders ordered a full military mobilization, claiming Ukraine is close to launching an offensive. Local, pro-Russia media are claiming explosions in rebel-held parts of eastern Ukraine. These events may offer a pretext for Russia to launch a new Ukraine invasion