by John Galt
November 24, 2015 05:15 ET
With the news breaking early this morning about the Russian SU-24 being shot down by the Turkish military, markets went from quiet and sublime into full blown panic mode in the futures markets as the chart above demonstrates.
But even with the Russian Defense Ministry downplaying this action at the moment, gold and the US dollar found an early morning bounce when the news broke (charts courtesy of FINVIZ):
This has also put a floor under WTI Crude with a slight bounce on the news just before 0400 ET:
Meanwhile the Turkish Lira took a quick hit against the dollar as the potential for a wider conflict scared markets this morning and has now stabilized somewhat:
The impact of this action was immediately felt on the Turkish stock market (BIST) which is still down about 1.4%:
Stay tuned as this promises to no longer be a dull holiday trading market with the global instability rearing its ugly head and Vladimir Putin about to make a public statement on the matter.