The head of the Russian parliament said on Tuesday that Russian President Vladimir Putin had asked for permission to use Russian troops abroad. The Russian parliament will now vote on this request. Presumably, this refers to Russia's plans to set up military bases in the pro-Russia breakaway regions of Eastern Ukraine which Russia recognised as independent nations on Monday. However, the vote could allow Putin to order a further military incursion into Ukraine. 

Market Reaction

Market sentiment remains choppy on Russia/Ukraine/NATO headlines and the latest news appears to have driven a few negative ticks in US equity markets. The S&P 500 recently pulled back under 4350 and into the 4330s where it now trades back in the red on the day by about 0.3%.