Asian shares mostly lower as investors eye Ukraine crisis

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Asian shares were mostly lower Monday after a retreat on Wall Street, as investors watched for developments in Ukraine after Russia rescinded earlier pledges to pull tens of thousands of its troops away from Ukraine's northern border.

The White House said President Joe Biden had agreed "in principle" to meeting with Russian President Vladimir Putin if he refrains from launching an assault that U.S. officials say appears increasingly likely.

Russia is a major energy producer and a military conflict also could disrupt energy supplies and make for extremely volatile energy prices. Australia's S&P/ASX 200 gained 0.2% to 7,233.60 as the country prepared to reopen its borders to more international travel after nearly two years of being mostly sequestered due to the pandemic.

The S&P 500 lost 0.7% to 4,348.87 while the Dow Jones Industrial Average also slipped 0.7%, to 34,079.18. The Nasdaq composite bore the brunt of the selling, skidding 1.2% to 12,548.07.Treasury yields fell Friday, as investors shifted money into the safety of U.S. bonds. The yield on the 10-year Treasury, which affects rates on mortgages and other consumer loans, was steady at 1.93% early Monday.

 

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