GLOBAL MARKETS-Gold jumps, stocks slide on Ukraine tensions mount

On Wall Street, the Dow Jones Industrial Average fell 1.78%, the S&P 500 lost 2.12% and the growth-oriented Nasdaq Composite dropped 2.88%. The drop in the S&P500 and Nasdaq were their biggest single-day declines in two weeks. Overnight in Asia, MSCI's broadest index of Asia-Pacific shares rose 0.15% rise as signs of a less aggressive Federal Reserve buoyed sentiment.

NEW YORK: Gold prices jumped to an eight-month high and safe-haven debt rose on Thursday after U.S. President Joe Biden said there was every indication Russia planned to attack Ukraine, while Moscow accused Washington of ignoring its security demands.

A gauge of global equities fell more than 1% despite strong corporate earnings in Europe as the Ukraine standoff deepened. Russian-backed separatists and Ukrainian forces accused each other of firing shells across a cease-fire line and Britain, as well as the United States, said Russia sought to fabricate a pretext to invade.