Stocks Tumble After Reports Russia Ready For "Final Stage" Of Donbas Liberation

Update (1115ET): Following Zelenskiy's earlier comments, Interfax is now reporting anything-but-peaceful comments from Russia as the Ministry of Defense says "The Russian army has created conditions for the final stage of the operation to liberate Donbas."

The Ministry also stated that "all main tasks of the armed forces of Russia in Kiev and Chernigov have been completed."

Gold is extending gains on this latest hawkish comment...

So much for "being close" to a ceasefire deal...

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As we detailed earlier, having soared on optimism yesterday amid chatter of Russian forces retreating, Ukrainian President Zelenskiy poured some cold water on that hope by noting that Russia is sending new forces during a speech to the Norwegian parliament. He also warned that he sees risk in the Black Sea from Russian mines.

His comments follow a statement from the Kremlin said there are no breakthroughs in talks with Ukraine.

That headline triggered selling in futures and the algos too stocks to overnight lows...

Gold jumped on the headlines...

Oil was also bid...

Will the dip-buyers step back in... because they know better?