Ukraine declared that Russia had launched a "direct invasion" of its territory after Moscow sent a convoy of aid trucks across the border.
Global equity markets reacted to news that tensions between Russia and Ukraine had flared up once again.
Russian shoppers travelling to Europe are spending less, as geopolitical tensions and rouble weakness curb their shopping sprees.
NATO Secretary General Anders Fogh Rasmussen said NATO is observing an alarming buildup of Russian forces near Ukraine.
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A yes vote in the upcoming Scottish independence referendum could lead some insurers to move their headquarters to London, says Mark Nicholson, associate director at Standard & Poor's Rating Services.
The U.S. Federal Reserve remains data dependent and will not bow to hawks, says Mark Haefele, global chief investment officer at UBS, as Janet Yellen continues to make the argument that there is slack in the labor market.
European shares closed lower on Friday as tensions in Ukraine flared up once again. It comes after stocks fluctuated as U.S. Federal Reserve Chair Janet Yellen spoke about the labor market in Jackson Hole, Wyoming.