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Fears that Russia will invade Ukraine have caused European stocks to fall.

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On Monday, European equities fell to their lowest level in 20 days, led by travel, banking, and auto firms, as investors worried about geopolitical risks following warnings that Russia could invade Ukraine at any time. By 0808 GMT, the Europe-wide STOXX 600 index (.STOXX) had fallen 2%, reaching its lowest level since January 25. All of the key sub-sectors were down, with travel & leisure (.SXTP), banking (.SX7P), and automobiles (.SXAP) losing the most ground, with losses of more than 3%. The energy sector (.SXEP) fell 0.5 percent, the smallest drop in more than seven years, as oil prices reached their highest in more than seven years.

After the United States warned that Russia may invade Ukraine at any time and create a surprise justification for an attack, global investors ditched riskier assets and shifted to safe-haven assets such as gold and government bonds.

Clariant (CLN) fell 16.5 percent among equities after the Swiss speciality chemicals business delayed the publishing of its 2021 results due to an accounting investigation.

Commerzbank (CBK) plummeted 7.5 percent after Germany’s finance minister stated that the government will not maintain its interest in the lender in the long term.

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