Stockmarkets around the world have suffered a poor start to the week amid escalating tension between Russia and Ukraine. Equities with exposure to those countries have plummeted on the London market as well as wider sell-off in most sectors. The gold price, unsurprisingly, is back in favour with a 1.1% rise to $1,345 per ounce.
The FTSE 100 is down 1% to 6,740. In contrast, Moscow's MICEX index falls by 10%. Commodity prices are likely to rise as Ukraine is one of Russia's biggest export routes for grain.
Investors might be cashing in their stocks, yet we believe the words of London financier Nathan Rothschild could be uttered many times today: 'Buy to the sound of cannons, sell to the sound of trumpets.'
These are among the big fallers among the London stocks with Russia and/or Ukraine exposure:
Russian energy giant Gazprom (GAZ) -10% at $17.92
Russian oil and gas producer Lukoil (LKOD) -7.4% at $50.91
Russian oil and gas producer Rosneft (ROSN) -5.2% at $6.40
BP (BP.) (which has a near-20% stake in Russian state-owned Rosneft) -0.9% at 499.9p
Russian bank Sberbank (SBER) -14.8% at $8.79
Ukrainian iron ore miner Ferrexpo (FXPO) -11.6% at 135.3p
Russian steel producer Evraz (EVR) -7.2% at 65p
Russian-exposed exhibitions group ITE (ITE) -13.6% at 243.35p
Ukraine-exposed JKX Oil & Gas (JKX) -11% at 54.75p
Real estate group Raven Russia (RUS) -10% at 74.25p
Ukraine-exposed Cadogon Petroleum (CAD) -8.9% at 10.25p
Ukrainian food group Ukrproduct (UKR) -8.9% at 9p
Ukraine-based egg producer Avangardco (AVGR) -14.6% at $8.54
JPMorgan Russian Securities (JRS) -7.9% at 418p
Dragon-Ukrainian Properties & Development (DUPD) -15% at 30.5p
Ukraine Opportunity Trust (UKRO) -11.8% at $3.75
Russian-based nickel explorer Amur Minerals (AMC:AIM) -8.6 at 4.73p
Stocks in neighbouring geographies decline:
Bank of Georgia (BGEO) -8.2% at £21.31