Herald Van der Linde, Head of Equity Strategy, Asia-Pacific at HSBC, says traders could see a repeat of 2004's bond markets, where a rise in yields was constrained to a period just before and after the first rate hike.
With a low debt-to-GDP ratio, Russia isn't having a balance sheet crisis that will lead to a default, says Jim Swanson, Chief Investment Strategist at MFS Investment Management.
Paul Christopher, Chief International Investment Strategist at Wells Fargo Advisors, doesn't expect a repeat of 1998's crisis due to differences in Russia's economy such as a free-floating currency.
Jack Bouroudjian, Chief Investment Officer at Index Financial Partners, says impact of the crisis will likely center around the old Soviet bloc.
The U.S. dollar slipped against major currencies on Tuesday on expectations that the Federal Reserve would take a cautious tone.
It's clear the US is not prepared for the extent of damage that Vladimir Putin can unleash, says Jake Novak.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, including a bad day for Russia exposed stocks, and the BOE published the results of its stress tests.
Emergency measures by the Russian central bank Monday night looked to have fallen short within hours of their announcement.
Emerging markets are looking weak, and the effects of oil's plunge is spreading through the market.
Adarsh Sinha, Head of Asia Pacific G10 FX Strategy at Bank of America Merrill Lynch, attributes the fall in emerging Asian currencies to fears of disinflation, instead of cautious trade ahead of the FOMC meeting.
Richard Yetsenga, Head of Global Markets Research at ANZ, says a shift towards a U.S rate hike may not be appropriate given the drop in oil prices which is stoking growth fears beyond America.
Callum Henderson, Global Head of FX Research at Standard Chartered, says the Indonesian currency is "playing catch up" to the woes of the economy as the relentless slide in oil prices continues.
The U.S. dollar rose against the euro on Monday on expectations that the Federal Reserve will take a less-dovish stance on monetary policy.
With oil prices plummeting, Russia's stock exchange continues to fall as traders worry over the country's ability to pay for imports.
Indonesia's currency tumbled to its lowest levels since the Asian Financial Crisis in the late 1990s, despite a lack of crisis-like signals.
Aadil Ebrahim, Vice President & Portfolio Manager at AllianceBernstein, explains why the drop in oil prices is prompting a flight to safety in global markets and discusses how long the selloff may last.
Michael Every, Head of Financial Markets Research, Asia-Pacific at Rabobank, expects the Aussie dollar to hit 78 U.S. cents over the next 12 months, following the release of deteriorating government finances.
Australia estimates iron ore will trade at about $60 a tonne as the slump in the commodity deepens the nation's budget deficit. Gareth Berry, FX Strategist at UBS, discusses.
Patrick Bennett, FX Strategist at CIBC, says the recent oil-induced turmoil in financial markets is "nonsense" as the collapse of energy markets will benefit countries.
Forget the naysayers. There is a real silver lining to the drop in oil prices, says Larry Kudlow.