Escalating tensions in Ukraine roil global markets

An escalation in tensions in the Ukrainian region of Crimea roiled global markets on Thursday, Reuters reported. As reports emerged that dozens of heavily armed pro-Russia gunmen have seized control of local government buildings in Crimea, stocks in Europe took a pounding while the dollar and gold advanced. Investors are worried that the tensions in the strategically important peninsula may take the Ukrainian crisis into a new, more dangerous phase. In Europe, the main stock indexes, which had started the session flat, were trading sharply lower. The FTSE 100 index of leading British shares was down 0.9 percent at 6,740 while Germany's DAX fell 1.2 percent to 9,543. The CAC-40 in France was 0.7 percent lower at 4,367. Wall Street was poised for a lower opening too, a reverse from earlier, with both Dow futures and the broader S&P futures down 0.3 percent. While stocks have fallen back, an ounce of gold has risen 0.4 percent to $1,333 while the euro has fallen 0.3 percent to $1.3650. Earlier in Asia, shares were mixed with most of the news reports over Crimea coming after the close. Hong Kong's Hang Seng gained 1.7 percent to 22,828.18 and Seoul's Kospi added 0.4 percent to 1,978.43. Markets in Southeast Asia were also mostly higher and China's Shanghai Composite added 0.3 percent to 2,047.35. Japan's Nikkei 225 stock index edged 0.3 percent lower to 14,923.11.