Markets sold off Tuesday as geopolitical tensions escalated between Ukraine and Russia. The Dow fell 300 points, or 0.7%; and the S&P 500 and Nasdaq 100 both moved around 0.5% lower. The selling comes after Moscow changed its nuclear doctrine following the Biden administration giving Ukraine permission to use longer-range weapons inside targets in Russia.

Government bonds and the Japanese yen rallied on Tuesday as investors flocked to safe-haven assets after President Vladimir Putin updated Russia's nuclear doctrine amid escalating tensions with the United States over Ukraine.