The steps of Western countries to remove Russia from the swift network caused a decrease in risk appetite in global markets.
The dollar is gaining value against almost all currencies entering the new week.
The search for a safe haven also leads to a rally in U.S. bonds. The yield on the 10-year U.S. Treasury fell seven basis points to 1.90 percent.
Gold rose 1.1 percent to over $1,900 an ounce.
Oil prices are up about 5%. The American crude oil active contract is at $96.5, and the Brent active contract is at $102.3.
Euro Stoxx 50 futures are down 3.8 percent. One of the U.S. futures indices, the S&P 500 lost 2.6 percent, and the Nasdaq 100 lost 2.8 percent.
Russia’s large-scale attack on Ukraine, including the capital Kyiv, led western countries to harsh economic sanctions, including a ban on transactions with the Central Bank of Russia and removal from the swift system.
According to the decision taken over the weekend, Western states agreed to remove several Russian banks from the Swift messaging system, which is used to process trillions of dollars of transactions between banks.