GLOBAL MARKETS-Equities tumble and US$ rises as Russia/ Ukraine fears escalate

The Dow Jones Industrial Average .DJI fell 464.85 points, or 1.38%, to 33,131.76, barely above the 33,119.685 level that would have confirmed a correction. The S&P 500 .SPX lost 79.26 points, or 1.84%, to end at 4,225.5 and the Nasdaq Composite .IXIC dropped 344.03 points, or 2.57%, to 13,037.49.

NEW YORK: Investors around the world lost their appetite for risk on Wednesday, with stocks selling off and the U.S. dollar gaining some ground as Ukraine declared a state of emergency amid intensifying fears of a full-scale Russian invasion.

Trading in many asset classes has been volatile since Russian President Vladimir Putin's dispatch of troops earlier this week into parts of Ukraine. This triggered sanctions from Western countries and threats of more if Moscow advances further.