European stock futures plunge 4% after Russian forces invade Ukraine

European stock futures plunged 4% on Thursday as investors dumped riskier assets after Russia attacked Ukraine, raising fears that a war in Europe will fuel higher inflation and derail economic growth. Futures tracking Europe's top 50 firms plummeted 4.1% by 0630 GMT. Among regional markets, German DAX futures dropped 4.4% and UK's FTSE futures fell 2.4%.

European stock futures plunged 4% on Thursday as investors dumped riskier assets after Russia attacked Ukraine, raising fears that a war in Europe will fuel higher inflation and derail economic growth.

Futures tracking Europe's top 50 firms plummeted 4.1% by 0630 GMT. Among regional markets, German DAX futures dropped 4.4% and UK's FTSE futures fell 2.4%. Russian forces fired missiles at several cities in Ukraine and landed troops on its south coast on Thursday, officials and media said, after President Vladimir Putin authorised what he called a special military operation.

The United States and its allies will impose "severe sanctions" on Russia, U.S. President Joe Biden said. Oil prices surged about 5%, pushing Brent crude past $100 a barrel for the first time since 2014, adding to inflation worries.

Futures tracking New York's S&P 500 fell 2.1% and Nasdaq 100 futures dropped 2.6%.

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