Fresh geopolitical concerns were raised from Ukraine and China, challenging the market’s cautious optimism triggered after the latest Federal Open Market Committee (FOMC) Minutes.

“Ukrainian President Volodymyr Zelensky on Wednesday savaged suggestions that Kyiv gives up territory and make concessions to end the war with Russia, saying the idea smacked of attempts to appease Nazi Germany in 1938,” said Reuters.

The news also adds, “The angry comments by Zelenskiy and a senior aide come as Ukrainian troops are facing a renewed offensive in two eastern regions that Russian-speaking separatists seized part of in 2014.”

On the other hand, China’s UN Mission conveyed that the US Draft Security Council resolution on North Korea will not solve any problem.

“The US knows the best method to de-escalate tensions with North Korea, but opposes it,” adds China’s UN Mission.

Market reaction

The news stops S&P 500 Futures to track Wall Street gains, down 0.15% intraday around 3,975 by the press time of Thursday’s initial Asian session.

Also read: Post FOMC: Market shift from catch-down camp to short covering mode