Scoreboard: Referendum row

Global stocks slumped despite upbeat US data as Germany and the US threatened action over Crimea’s impending referendum.

Markets overlooked generally positive economic data out of the US to focus instead on lingering concerns over China and tensions on the Crimean peninsula. The US and Germany have ramped up the pressure warning that if a planned referendum on cessation goes ahead this weekend then “very serious” steps would be taken. Approximately 58 per cent of Crimea’s two million people are Russian (about 24 per cent are Ukrainian) and so far it seems they are overwhelmingly in favour of joining Russia.

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