Global Stocks Plummet And Oil Soars As Russia Invades Ukraine

Commodities like oil and precious metals rallied on Thursday as Russia's invasion of Ukraine sent shock waves through international markets.

European stocks fell as markets opened on Thursday morning, with key indexes including London's FTSE 100 down 4%, Germany's Dax down 4%, France's CAC40 down 3%, and Spain's Ibex 2.58%, Euro.

The slump is similar to falling stocks in the Asia Pacific region Thursday.

When markets open in the U.S., the S&P 500 is down 1.84% and the Dow is down 1.38%, with the latter continuing a days-long downwards trend.

The Moscow stock exchange, which uses the Russian ruble, halted trading on Thursday due to huge fluctuations in the currency.

Oil prices, meanwhile, jumped past $100 a barrel with the highest prices since the summer of 2014, and safe haven assets like gold, silver and Platinum grew between 1.5% and 3%.

There are more sanctions. President Joe Biden warned the G7 meeting would yield more sanctions on Russia. European leaders will meet on Thursday to discuss the measures.

International condemnation and threats of more sanctions have been drawn up by Russia's invasion of Ukraine.

Russia has ordered a special military operation in Ukraine.