Asia Stocks Tumble Most in a Year as Russia Attacks Ukraine
- MSCI Asia Pacific slides 2.8% in biggest drop in a year
- Benchmarks in Hong Kong, Singapore, India tumble at least 3%
A convoy of Russian military vehicles move towards border in Donbas region of eastern Ukraine on Feb. 23.
Source: Anadolu Agency/Getty Images
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Stocks in Asia Pacific extended losses on heightened tensions over Ukraine, as Russian forces attacked targets across Ukraine after President Vladimir Putin ordered an operation aimed at demilitarizing the country.
The MSCI Asia Pacific Index tumbled 2.8% in worst day in a year after the incursion, which prompted Ukraine’s foreign minister to warn of a “full-scale invasion.” U.S. President Joe Biden said he will announce further punishments on Russia in response and meet his Group of Seven counterparts.