These days, a 120-point move is nothing traumatic, especially after a weekend. Resetting to adjust to new situations which came up after the close Friday. And yes, it’s mostly about Ukraine.
Crude oil is up almost $2 (or 2%); gold is up 16 (1.1%).
Tokyo stocks off 2%; other Asian/Aussie stocks off 0.5 to 1.5%.
“Risk off” seems the order of the day, but no panic at this point.
right now its tense but not a fire zone. Any bullets start flying and add a zero after the 127.