Wall Street Today | Long lines at Russia's ATMs as bank run begins — with more pain to come

U.S. equity futures were steady Tuesday and a rally in crude oil paused, bringing a hiatus in volatility as investors evaluated the war in Ukraine and the sweeping sanctions imposed on Russia.

Russia's central bank announced it would more than double its key interest rate from 9.5% to 20% in an attempt to stabilize the ruble. The central bank also introduced some capital controls to limit how much money could leave the country.

"This is a full-fledged bank run that's already underway," Maximilian Hess, a Russian economy expert and fellow at the Foreign Policy Research Institute, told CNBC.

The government's decision Monday to implement the sanctions with immediate effect -- which prompted Lavrov to cancel a planned trip to Geneva -- came after a weekend in which it was criticized by opposition politicians and in editorials in leading Swiss papers as well as by other governments.

"One data point that I am looking at in particular is month-to-month change in inflation. To the extent we start to see that trend down, then I will be comfortable pretty much with a 25 basis-point move. If that continues to persist at elevated levels, or even moves in the other direction, then I am really going to have to look at a 50-basis-point move for March." Bostic said Monday in a virtual discussion with Harvard University students.

A shipment of SpaceX's Starlink satellite-internet dishes arrived in Ukraine on Monday, according to a top government official. The Starlink kits came less than 48 hours after CEO Elon Musk announced the company would send support.

Ukraine digital minister Mykhailo Fedorov posted a photo showing more than two dozen boxes of Starlink user kits in the back of a truck.

Lucid's CEO said the problems are more to do with commodity parts such as glass and carpet rather than an ongoing global shortage of semiconductor chips.

Investors were cheering reports that its next factory, near Berlin, Germany, is close to receiving approval for commercial production.

Digital coins formed a sea of green Monday amid speculation cryptocurrencies will gain favor in the wake of sanctions against Russia, with Bitcoin and Ether soaring following a volatile weekend. Bitcoin rose as much 12% to $41,946, while Ether gained about 8.7%.

Bitcoin's 60-day correlation with the S&P 500 has climbed in the wake of the Ukraine crisis with a 0.6 rating level.