World stocks hit 3-week lows, oil rises on Russia-Ukraine fears

Kyiv and the West fear that a border incident near eastern Ukraine could be used as a pretext for Moscow to attack its neighbour. Russia denies such plans. Global stocks hit three-week lows and oil rose on Monday as worries increased that Russia will invade Ukraine.

Russian forces killed a group of five saboteurs who breached the country`s southwest border from Ukraine on Monday, news agencies quoted the military as saying, an accusation that Kyiv dismissed as the latest in a series of fakes.

Markets are on high alert for any escalation in the crisis. MSCI`s world equity index fell 0.4% to 700.11, with Monday`s public holiday in the United States, which will keep Wall Street closed, thinning trade and adding to the volatility.S&P 500 stock futures fell 0.66%. Nasdaq futures dropped 1.2%.

Divyadharshini R

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