War in Ukraine knocks down Asian stock prices

Asian stock prices have fallen after Western nations moved to tighten sanctions against Russia and as President Vladimir Putin escalated tensions by ordering Russian nuclear forces on high alert.

U.S. futures fell, with the contract for the S&P 500 down 2.5% early Monday. The stock markets in Tokyo, Hong Kong and Shanghai declined while Sydney was higher.

Russia’s invasion of Ukraine has caused markets to swing wildly, given the potential impact on inflation, energy supplies and other areas. The Russian ruble has weakened sharply but was steady early Monday at 83.86 to the dollar.

Japan joined moves by the U.S. and Western nations to impose sanctions on Russia, including blocking some Russian banks from the SWIFT global payment system.