Russia-Ukraine situation sparks U.S. stock turmoil, analysts warn of risks

Credit investors are in a "sell what you can" mood in an environment of rising rates and political tensions, a Bank of America Corp. survey showed, with Goldman Sachs Group Inc. strategists telling clients to switch to cash.

Wilson, who has persistently warned that U.S. equity markets are heading for a correction and has the lowest year-end target for the S&P 500 index out of all strategists surveyed by Bloomberg, said Monday that investors will soon shift their focus from inflation to economic growth.

"Investors are still terrified over central bank policy errors after a decade of financial repression," Bank of America strategists said in a note, adding that investors classed it as the No. 1 risk for the third straight survey.

Global stocks tumbled on Monday as fears of an imminent invasion intensified, with a number of countries urging citizens to flee Ukraine. U.S. President Joe Biden’s national security advisor Jake Sullivan warned on Sunday that an incursion could come "any day now," and Ukraine has requested a meeting with Russia within 48 hours.