Market Insider

Wall Street wary of potential escalation in Ukraine

Wall Street could be looking at a short-term pullback, or a third day of losses on Tuesday, as investors keep a wary eye on the standoff between Russia and Ukraine.

In The Hague on Monday, the Group of Seven major industrialized nations opted to convene in Brussels in June rather than a planned G-8 meeting in Sochi, Russia, saying in a statement they would "suspend our participation in the G-8 until Russia changes course."

"There is mounting geopolitical risk over Ukraine and Russia's annexation of Crimea. That flash point has undermined investor confidence," said Matthew Kaufler, portfolio manager at Federated Investors.