Malaysia Airlines flight 17 was reportedly shot down in Ukraine near the Russian border. According to the Ukrainian government, all 280 passengers and 15 crew members are believed dead. The news hit global markets hard. People are fleeing to what's traditionally considered a safe haven - the U.S. treasury. The 10-year U.S. treasury spiked to the highest level in nearly two months while the yield fell to below 2.50%. Gold is another safe alternative and gold prices rallied more than 1%. Stock index futures of all major indexes in Europe and Asia are pointing down. The Russian Ruble fell about 2% against the U.S. dollar, that's the largest one-day decline in more than a year. The White House said it is trying to determine whether there were any Americans on the flight from Amsterdam to Kuala Lampur. The Kremlin called for an immediate investigation on the reason of the crash. TheStreet's Julia Sun reports from New York.

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