As reports emerged that dozens of heavily armed pro-Russia gunmen have seized control of local government buildings in Crimea, stocks in Europe took a pounding while the dollar and gold advanced. Investors are worried that the tensions in the strategically important peninsula may take the Ukrainian crisis into a new, more dangerous phase.
While Russia has raised questions over the legitimacy of the new
Ukrainian authorities after President Viktor Yanukovych fled Kiev last
week and has initiated surprise military drills, Ukraine has put its
domestic security forces on high alert and urged Russian forces not to
leave their base in southern Crimea.
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