The US Defense Secretary Lloyd Austin on Thursday said that the US is seeing some Russian forces inching closer to the Ukrainian border and stocking up on blood. Austin added that Russia is flying more combat aircraft and dismissed Moscow's claims that it is withdrawing troops. "I was a soldier myself not that long ago" Reuters quoted Austin as saying. "I know firsthand that you don't do these sorts of things for no reason," he continued, "and you certainly don’t do them if you're getting ready to pack up and go home." Austin called the reports of shelling in Ukraine "troubling". 

Market Reaction

Amid concerning geopolitical headlines pointing towards the risk of Russia/Ukraine military escalation, markets remain in a defensive mood prior to the start of the US session. S&P 500 futures are currently trading with slight losses in pre-market trade of about 0.2%,  though remain within Wednesday's ranges and above the 4450 level.