Russia's ruble plunged as the country's military invaded Ukraine.
The ruble fell to its lowest level ever against the dollar as the dollar rose.
The ruble was up against the dollar in Moscow at 8:40 a.m., but it was down from the previous day. All of Moscow's markets have been suspended.
Putin declared a special military operation early Thursday morning, just two days after sending troops into the east of the country. There have been months of Russian military build up near the borders of Ukraine.
Specific reports from the country are difficult to confirm, as the situation in Ukraine is rapidly worsening.
The Foreign Minister of Ukraine reported at 7 a.m. that Russia had begun shelling the country's units in the east.
The air force of Ukraine said it was repelling an air attack and that attacks on the border units were being carried out with heavy equipment.
The Ukrainian military said that there was an attack taking place from the Russian-annexed peninsula of Crimea. The Ukrainian government has told its citizens to hide in shelters to avoid missile attacks.
NATO will hold an emergency meeting in response to the invasion. President Joe Biden vowed to impose severe sanctions on Russia.
U.K. Prime Minister Boris Johnson said that Putin had chosen a path of destruction.
The asset markets were affected by the attack.
The U.S. and European stock futures are all in the red. It was the first time in three years that the international benchmark crude surpassed $100.
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