Panic in European stocks driven by concerns over the potential use of nuclear weapons by Russia 🔎
European markets are experiencing a 1-2% sell-off today. The largest declines can be observed in WIG20 (-3.00%), AUT20 (-1.80%), and ITA40 (-1.65%). The German DAX index is down 1.00%, testing the 19,000-point barrier.
The drops in Polish and European assets can be linked to Putin's signing of an updated nuclear doctrine, which states that a critical threat to the sovereignty and territorial integrity of Russia and Belarus could lead to a nuclear response. Previously, the basis for using such weapons was limited to threats to the state's very existence. This move by Russia is aimed at potential adversaries and military coalitions, such as NATO. There are also concerns that potential long-range attacks from Ukraine could be viewed as an excessive threat.
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The VIX is up 8.50% today due to escalating tensions between Ukraine and Russia. Source: xStation 5
DAX is down nearly 1.00%, testing the 19,000-point level. Declines are being observed across broad markets, but the WIG20 index is experiencing the most significant losses among European markets.
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