[video] Quick Take: Stocks Get Defensive as Ukraine Crisis Intensifies
NEW YORK (TheStreet) -- The S&P 500, Nasdaq and Dow Jones Industrial Average are lower Monday as fears of Ukrainian unrest continue to weigh on U.S. equities.
Ben Willis, floor director at Albert Fried & Company, told TheStreet's Debra Borchardt the news is causing investors to push into the fear trade -- that is, the selling of stocks and buying of crude oil and gold.
There are also concerns over defaults in the wheat market because Ukraine is one of the world's largest producer of the crop.
Adding fuel to the fire is the Russian army, which has reportedly ordered the Ukrainian army to surrender before the end of the day if it wants to avoid severe consequences.All the uncertainty is not helping U.S. investors, he said. It also remains to be seen how the current situation will affect the European Union, Willis concluded. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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