Scoreboard: Ukraine concern

Global stocks slumped as worries over Russia’s control of European gas supplies mounted.

Events in the Ukraine dominated market sentiment overnight. As Russia consolidated its positions in the Crimea, concerns turned to the prospect for war and the security of Russia’s significant gas supplies to both the Ukraine and Europe. Gas prices shot up overnight and in fact energy prices rose across the board. Certainly Russia’s markets have been hammered -- stocks down about 11 per cent and the Ruble tumbled. In response, Russia's central bank hiked rates 1.5 per cent to 7 per cent.

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