After Ukraine: Market poised to break 2014 trading pattern

The shooting down of a civilian jet over the Ukraine comes just as markets are poised to break out of a technical trading range which has dominated most of the year.

Just as the market seemed directionless, the dreadful events in the Ukraine today (July 18) have sent a shudder through global equities. The news of the shooting down of a civilian jet on the Russia- Ukraine border, possibly by pro-Russian forces, immediately sent Wall Street (which only got the news late in the session) lower by 1%; European markets fell harder.

On the ASX an early sell-off saw stocks fall by 0.5%. Meanwhile, across international markets this worrying incident is certain to prompt some selling as tensions escalate between Russia and the United States.

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