- Asian markets track Wall Street record to extend global rally
- Guirassy and Anton to return to Stuttgart with new side Dortmund
- Marseille bidding to continue 'almost perfect' Ligue 1 start
- Arnold quits as coach of Australia men's football team
- Harris and Oprah hold star-studded US election rally
- Allies to remember failed WWII parachute operation
- Perez leading new-look Villarreal charge against leaders Barca
- Man City face Arsenal in Premier League title showdown, Postecoglou under pressure
- Fake celebrity endorsements, snubs plague US presidential race
- Documentary brings Argentine 'death flights' to the big screen
- Strike shows challenge to Boeing 'reset' of labor relations
- World leaders to gather at UN as crises grow and conflicts rage
- How plastic pollution poses challenge for Canada marine conservation
- Scientists track plastic waste in pristine Canada marine park
- South Africa's Buhai grabs LPGA Queen City lead
- Japan inflation firms to 2.8% ahead of BoJ rate decision
- Russia's Kadyrov accuses Musk of 'remotely disabling' his Cybertruck
- Titan sub had to abort a dive days before fatal implosion: testimony
- Ohtani makes MLB history with first 50-homer, 50-steal season
- Ohtani eyes MLB history after surpassing 50 stolen bases, 49 homers
- Ohtani eyes MLB history after surpassing 50 stolen bases
- Barca downed by Monaco as Arsenal held in Champions League stalemate
- Head's 'good night at office' after century seals win over England
- Dubois seeks legitimacy with Joshua scalp
- Rate cut could lift consumer spirits before US elections
- Last-gasp Gimenez strike sends Atletico past Leipzig
- Barca stumble at Monaco after early red card
- Raya heroics save Arsenal in Champions League opener at Atalanta
- Cathay Airbus engine fire linked to cleaning: EU regulator
- Guardians beat Twins to secure MLB playoff berth
- Jihadist attack in Mali capital killed more than 70: security sources
- Alonso hails 'efficient' Leverkusen after Feyenoord rout
- Head's hundred seals Australia win over England in 1st ODI
- Ex-Man United striker Anthony Martial joins AEK Athens
- NFL unbeatens meet as Texans visit Vikings, Steelers host Chargers
- Head's hundred seals Australia win over England in 1st ODI after Labuschagne strikes
- Dream debut for Wirtz as Leverkusen thump dire Feyenoord
- Myanmar flood death toll climbs to 293: state media
- Israel army says West Bank air strike kills 4 militants
- LIV golfers get green light for US Ryder Cup team, PGA Championship
- US accuses social media giants of 'vast surveillance'
- Ten Hag to bed Hojlund, Mount in carefully when they return for Man Utd
- Breaking bad as McIlroy endures 'weird' day
- EU chief announces $11 bn for nations hit by 'heartbreaking' floods
- Spanish PM, Palestinian leader urge Mideast de-escalation
- New study reinforces theory Covid emerged at Chinese market
- World Bank boosts climate financing by 10 percent
- Bagnaia eyeing summit on home ground in 100th MotoGP
- 'Something was wrong', defendant in French mass rape tells court
- Hezbollah chief admits 'unprecedented' blow in device blasts
Stocks recoup some losses after Russia sees 'chance' in Ukraine crisis
Global equities were able to claw back at least some of their earlier losses on Monday after Russia suggested there might be a "chance" of reaching an agreement with the West over Ukraine.
Stocks on Wall Street opened almost flat, even if they subsequently slipped into the red, and European markets -- which had fallen sharply earlier in the session -- managed to recoup some of the lost ground by mid-afternoon.
"The tone changed suddenly... following a headline that Russian Foreign Minister Lavrov said there is a chance for agreement on security issues," said Patrick O'Hare at Briefing.com.
In what appeared to be a possible climbdown amid raging tensions over Ukraine, Russian Foreign Minister Sergei Lavrov told President Vladimir Putin that there was a "chance" of reaching an agreement on security with the West.
"The fact that the door has not been shut to further talks... is a good thing," O'Hare said.
"Hence, the negativity seen earlier has dissipated some, yet there is still a major cloud of uncertainty hanging over the market."
Earlier, markets had fallen even more sharply after the United States warned that Russia could attack Ukraine within days.
Russia's main stock market was down more than four percent while the ruble fell against the dollar.
But even as that small glimmer of hope appeared in the Ukraine crisis, remarks by a top US Federal Reserve official that the central bank needed to accelerate the pace of interest rate increases to fight inflation threatened to dampen some of the nascent optimism.
"Our credibility is on the line here," St. Louis Fed President James Bullard said on CNBC.
After consumer prices saw their biggest jump in 40 years in January, he said the Fed should "front load" rate increases to rise by a full point by July.
- $100 oil? -
The Ukraine crisis also sent oil prices sharply higher amid a pick-up in crude demand as economies reopen after the coronavirus pandemic and people return to a more normal life.
In earlier Asian deals, Brent had climbed as high as $96.16 and WTI crude to $94.94 per barrel, stoking renewed concern over elevated inflation.
"Russia is the world's second-largest exporter of crude oil and the largest exporter of natural gas," said Commerzbank analyst Carsten Fritsch.
"If Russia invades Ukraine, crude oil and natural gas prices can be expected to surge significantly. In this case, Brent would probably exceed $100 per barrel."
Europe has for months already suffered from soaring natural gas prices, which have fuelled rocketing domestic energy prices and sparked decades-high inflation.
"In the event of a Russia-Ukraine escalation we could be seeing a significant increase in domestic energy prices since much of Europe is heavily reliant on Russian oil and gas supplies," said XTB analyst Walid Koudmani.
"As energy prices have been a key contributor to the recent record levels of inflation, a further increase could spill over into the majority of the economy and potentially hinder an already fragile post-pandemic economic recovery."
- Key figures around 1440 GMT -
New York - Dow: DOWN 0.2 percent at 34,668.67 points
London - FTSE 100: DOWN 1.7 percent at 7,532.39
Frankfurt - DAX: DOWN 2.1 percent at 15,092.66
Paris - CAC 40: DOWN 2.5 percent at 6,835.50
EURO STOXX 50: DOWN 2.3 percent at 4,057.87
Tokyo - Nikkei 225: DOWN 2.2 percent at 27,079.59 (close)
Hong Kong - Hang Seng Index: DOWN 1.4 percent at 24,556.57 (close)
Shanghai - Composite: DOWN 1.0 percent at 3,428.88 (close)
Brent North Sea crude: DOWN 0.7 percent at $93.82 per barrel
West Texas Intermediate: DOWN 0.7 percent at $92.47 per barrel
Euro/dollar: DOWN at $1.1326 from $1.1350 late Friday
Pound/dollar: DOWN at $1.3531 from $1.3564
Euro/pound: UP at 83.70 pence from 83.68 pence
Dollar/yen: UP at 115.43 yen from 115.42 yen
burs-spm/kjm
B.Shevchenko--BTB