Reports of escalation in Ukraine send markets south

|By:, SA News Editor

Up nearly 1% not long ago, Europe's Stoxx 50 (NYSEARCA:FEZ) is lower by 0.6%, led by Germany's (NYSEARCA:EWG1% decline after Ukraine says it wiped out a Russian military convoy. Germany's 10-year Bund yield carves out another all-time low at 0.965%.

An early U.S. gain is erased as well, with the S&P 500 (NYSEARCA:SPYdown 0.25%. The 10-year Treasury yield falls to a level not seen since May 2013, off six basis points to 2.34%. TLT +1.2%, TBT -2.3%

Down more than 1% earlier, gold (NYSEARCA:GLD) is now lower by 0.6% at $1,307 per ounce.