Markets sold off Tuesday as geopolitical tensions escalated between Ukraine and Russia. The Dow fell 300 points, or 0.7%; and the S&P 500 and Nasdaq 100 both moved around 0.5% lower. The selling comes after Moscow changed its nuclear doctrine following the Biden administration giving Ukraine permission to use longer-range weapons inside targets in Russia.

U.S. stock index futures fell as concerns over escalating tensions between Russia and Ukraine affected risk appetite globally, with investors rushing to safe-haven assets. Russian President Vladimir Putin issued a warning to the United States on Tuesday,

Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China, the world's second-largest consumer, and forecasts of a global oil surplus weighed on markets.