European shares and U.S. stock futures are lower after Vladimir Putin authorized a draft treaty for Crimea to join Russia.
Markets are also eying Janet Yellen's first FOMC meeting as Chair of the Fed, which is expected to continue the tapering but possibly abandon the 6.5% unemployment trigger for considering a rate hike.
Earlier, Asian shares fell following a strong session on Wall Street as markets shrugged off concerns about the Ukraine crisis.
Indian shares have hit record highs amid strong buying by foreign investors ahead of general elections.
Japan +0.9%, Hong Kong +0.5%, China +0.1%, India +0.1%.
Euro Stoxx 50 -0.7%, London -0.5%, Paris -0.4%, Frankfurt -0.7%, Milan -0.4%, Madrid -0.6%.
U.S. stock futures: Dow -0.2%. S&P -0.2%. Nasdaq -0.3%