Market Overview

The escalation of the Russia-Ukraine conflict briefly pushed up safe-haven assets such as the dollar, yen, Swiss franc, and gold. However, U.S. restrained responses cooled sentiment. $Nasdaq Composite Index (.IXIC.US)$ rebounded after a lower open, while $Dow Jones Industrial Average (.DJI.US)$ was the only major U.S. index to close lower. European stocks halved earlier losses. NVIDIA jumped 4.9% ahead of its highly anticipated earnings report, while AMD soared over 31%.

The China ADR Index fell 0.8%, with $XPeng (XPEV.US)$ dropping nearly 4% and $Weibo (WB.US)$ gaining over 6%.

Safe-haven demand eased intraday, narrowing declines in U.S. Treasury yields and reversing earlier gains in the dollar and yen.

Bitcoin surged past $94,000 for the first time on the debut day of Bitcoin ETF options trading.

Elsewhere, crude prices fell sharply after Iran agreed to halt uranium enrichment near weapons-grade levels. Investors remained focused on Ukraine's use of long-range weapons against Russia, with the ruble weakening beyond 100 per dollar for the first time in over a year.

In Asia, Chinese A-shares staged an afternoon recovery, with the ChiNext Index rising 3%. Semiconductors, non-ferrous metals, and new energy vehicles led the gains, while $Hang Seng TECH Index (800700.HK)$ climbed over 1%.

Coming Up Today: Earnings reports from $NVIDIA (NVDA.US)$ , $Novo-Nordisk A/S (NVO.US)$ , $NIO Inc (NIO.US)$ , $Target (TGT.US)$ , and $Snowflake (SNOW.US)$ .