Daily digest market movers: Geopolitics pressure markets
- Headlines around Russia are delivering a knee-jerk reaction in markets. Russian President Vladimir Putin has signed a decree that allows the full deployment of nuclear weapons against any non-nuclear nation that strikes positions on Russian soil, Bloomberg reportsl. This basically means that once Ukraine deploys long-distance missiles from the US or the UK, Russia will be able to retaliate with the use of nuclear weapons.
- Meanwhile Ukraine has launched its first ATACMS strike inside Russia, Bloomberg reports - citing local sources.
- At 13:30 GMT, US Housing data for October will be released:
- Building Permits are expected to tick up to 1.43 million from 1.425 million previously.
- Housing Starts are expected to decline to 1.34 million units against 1.354 million in September.
- Federal Reserve Bank of Kansas City President Jeffrey Schmid delivers a speech about the US economic and monetary policy outlook at an event organized by The Greater Omaha Chamber in La Vista, Nebraska around 18:10 GMT.
- Equities are diving lower after the comments came out around President Putin signing the nuclear weapons decree. European equities are giving up all gains and slide lower by near 0.50%. US equity futures are showing smaller losses.
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