Stock markets crash and oil exceeds 100 dollars after Putin's attack in Ukraine

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Russia's attack on Ukraine this morning shakes the markets.

After the widespread crashes in Asia, the main European stock markets have opened this Thursday with declines that in cases such as Germany or Spain have come to exceed 4% in the first minutes of trading, while the Russian stock market sinks more than 40 % and drags the ruble more than 10%.

The fall of the

is close to 2.8% after the initial collapse of 4.5%, with almost all the values ​​in

and drops that are especially significant in the banking sector.

Santander (-4.8%), BBVA (-4.1%), Sabadell (-4%) or CaixaBank (-3.7%) lead the losses that place the selective in the fight to maintain the level of 8,200 points.

The situation is similar in the rest of Europe, where the

in Frankfurt and the Cac 30 in Paris fell 3% while the

in Milan fell by almost 3.5%.

Stock markets had dodged the heightened tension in Ukraine in recent days, leading analysts to believe that investors had discounted much of the geopolitical risk in the area.

However, Russia's move to the fore has returned panic to investor sentiment and triggered volatility.

"According to the movement seen in the European opening, the Ukraine risk was not discounted. The uncertainty will remain in the short term," says

, spokesman for the multi-asset investment platform

in Spain.

It was past 04:00 in the morning when Russian President Vladimir Putin announced "a military operation" in the Donbas region after the request for military aid by the self-proclaimed republics of Donetsk and Lugansk and in the middle of the Security Council emergency held in New York.

Immediately afterwards, several explosions shook different cities in Ukraine, Russian troops have landed in Odessa and there have been artillery bombardments on the border after the announcement by the Russian president.

In this scenario, Russia has blamed Ukraine for the escalation of the conflict and has defended its decision to launch a military operation in the Donbas region before the United Nations Security Council, meeting urgently this Thursday night.

For its part,

to Russia's military aggression against Ukraine, ensuring that Russian President Vladimir Putin "will pay" for an "unprecedented" attack.

"We expect a sharp drop in equities from current levels. Developed market equities could lose up to 10% in the short term, mainly due to loss of investor confidence and growth prospects," says Leonardo Pellandini, Equity Strategist at Julius Baer.

fall of the ruble

The fear is most evident in Russian markets, where both the major indices and the ruble are taking a heavy hit.

The Russian stock market has resumed its operations after a temporary halt due to Putin's announcement and fits a 45% drop in the

;

from its highs in the past year, the index has plunged 54%.

The

, denominated in dollars, has collapsed 41.13% in the first hours of trading, to 708.86 integers, and is down 63% from maximums.

As for the

, its decline is close to 10%, which has forced the Russian central bank to intervene to "stabilize the situation."

"With the aim of stabilizing the financial market situation, the Bank of Russia has decided to start interventions on the foreign exchange market," the entity announced in a statement collected by the Efe agency.

oil escalation

The economic consequences have not been long in coming and the tension in the stock markets is also added to the tension in the energy markets, where

has soared above 100 dollars in the case of a barrel of

, a benchmark in Europe.

The increase in this case reaches 6% and places the price at 102

, its highest value since July 2014, while the

-of reference in the US- is placed at 97.29 dollars with a rise of 5 .6%.

Black

has been on the rise for several days on fears that the crisis between Russia and Ukraine could

.

Russia is the second largest oil exporter after Saudi Arabia, but also the largest producer of natural gas.

Analysts believe that the price escalation will continue as the war in Ukraine grows and that it could exceed 120 dollars in its price.

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