Dow futures drop 700 points after Russia announces military action against Ukraine

(CNBC) U.S. stock futures fell sharply Wednesday evening as Russia launched an attack on Ukraine. Dow futures fell 719 points, or 2.2%, while futures tied to the S&P 500 were down 2.1%. Nasdaq 100 futures declined 2.5%. Meanwhile, oil prices popped, with West Texas Intermediate futures trading 2.9% higher at $94.79 per barrel.

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