kharkiv under siege. showing no signs of slowing down as the russian offensive moves closer to kyiv putting the pressure on putin as a growing number of companies are black listing moscow over international sanctions. investors on edge as the market and your money continues to fall as inflation continues to rise. it is tuesday, march 1st this is "worldwide exchange.

good morning, good afternoon or good evening. welcome from wherever in the world you may be watching. i'm brian sullivan good to be back with you let's get to the markets and your money on this tuesday there is a lot going on and a lot to run you through let's begin with stock futures they are in the red once again nasdaq futures off the most. down triple digits .75% down for nasdaq dow down as well the fair value number is in the green. the markets could shift as the day goes on. right now, we are in the red february is now in the books dow closing out the worst performance since november last year major numbers off monthly declines it has been a tough time for equities relating to energy or oil. in the bond market, yields continue to come down. bonds are perceived as a safe

haven buy. the ten-year yield is 1.8% expectations for how aggressive the federal reserve may be with rate hikes are coming down lately the trillion dollar question is whether the russian war with ukraine will result with our fed less aggressive with macro uncertainty or more aggressive as inflation picks up. we should find out with that huge fed meeting on march 16th circle that with a big red pen on the calendar. speaking of inflation. oil prices are on the rise crude oil at $99 here. $102 overseas. oil is less than $1 from hittin $100 per barrel. brent crude at highest level since 2014 last night.

crypto alsos rising on monday it is moving just a bit. with the move higher, bitcoin is still down about 35% from the november highs bitcoin up this morning, but well off at mid $65,000 range. something to watch as the world may be embracing crypto as a way to move money around and help ukraine without the guise of russian authorities or hackers around the world, stocks mostly continue to fall. the european markets right now mostly down big. especially in germany. energy costs there continuing to rise millions of families in the uk and europe face soaring electricity prices and in some cases, energy poverty. the latest on the trade from rosanna lockwood in london rosanna. >> good morning, brian the energy story playing heavily in the equity markets. moves contained early on as

investors reviewed the latest from the war in last hour, we had latest lines from lavrov and mario draghi talking about the nuclear threats. ftse 100 was in the green and now in the red the cac is off 2.5% as well as the dax. let's give you the sectors and how they are shaping up. basic resources is the only sector that is in the green. up .75%. travel is suffering today. down 5%. airlines facing a tough challenge at the moment. i want to bring you back to the energy story latest news out of totale energy from france. they were under pressure to follow on from companies like bp and shell that organize with russian projects totale will no longer divert

funds to russian organizations brian. >> thank you, rosanna. now to the latest developments from ukraine. just keep in mind, this is a very fluid situation news can literally change by the minute right now, look at that. the satellite photo and video of a 40-mile long convoy of russian tanks and armored personnel and other military vehicles believed to be on the way to kyiv today in the sixth day of fighting since the invasion began last thursday this is the russian offensive bearing down on the city and fighting intensifying in the second biggest city of kharkiv reporting they are under constant assault from the air. the city's mayor reporting russian missiles struck a city administration building. look at this ukraine's state emergency services releasing this video to

the public this morning showing the explosion hitting the kharkiv administration building after 8:00 a.m. local to time. that is a result of the russian air strike ukrainian forces are digging in. the military meeting fierce resistance on the ground and in the air and talks are still ongoing after the five-hour face-to-face talks yesterday also happening this morning, ukrainian president volodymyr zelenskyy is expected to address european parliament today via video link from ukraine. no guidance on timing yet. it comes one day after zelenskyy signed the ukraine application for a membership into the european union as the situation develops in ukraine, russia continues to feel the pinch of global sanctions and black list the latest is mastercard blocking multiple financial

institutions from the network all in response from the sanctions. also msci signaling it will cut russia from the followed equity index funds. this is currently working with market participants on how to rebalance those that are widely benchmarked around the world and france's totale energy will no longer provide capital for projects in russia a lot happening in the business world as well. joining us on the cnbc news line to find out what is actually happening on the ground in ukraine is new york times reporter michael schwirtz. he has been on the move. michael, good afternoon to you i saw from twitter you have been in the cities recently there is a lot of propaganda on russian state tv you encountered it and you are not seeing any signs of panic by

the citizens of ukraine. what are you seeing? >> that is right you see fear, but a lot of resolve. i have been bouncing around the country. what you see in all of these places from large cities to small towns are people out in the streets and filling sand bags and building these tank barriers they are getting their regions and localities ready for any possible russian assault i arrived in odesa yesterday and the city looks like a movie set for a world war ii movie there are sand bags going up the center of the city is blocked off. people are turning a local food hall into a clinic or hospital i spoke to local officials here. they are expecting there might be some kind of attack from russian naval forces based on the black sea. odesa is ukraine's largest port

city on the black sea. i was in kharkiv three days ago where the blast endwent off thi morning. people are taking shelter because of the bombardment of russian forces all of this goes against what has been prevalent in russian government tv and russia propaganda channels that the ukrainians would greet this type of russian attack as a liberation of this country that is not anything i've seen >> there's a lot of video and photo of the 40-something mile long train of military personnel and tanks and armored cars heading to what is believed to be kyiv. michael, what are you hearing on the ground there and what is ukraine media saying about this russian convoy that we're showing on our tv here which

appears to be very long and heavily armed and likely on its way to kyiv. >> it is looking ominous what we saw in the first day into the war, what everybody was expecting when the war kicked off last week is a massive artillery bombardment and operation to quickly seize regions of the country and get ahold on kyiv and lock the country off and force a political concession either by toppling the government in kyiv or so threatening that government's existence would be forced to make concessions that has not come to pass. the russian military has appeared to stumbled now the fear is they will redouble efforts and come in with the massive force that has been missing for the last few days >> and, michael, to wrap it up, because you have been there -- and stay safe. we appreciate your reporting

you have met many ukrainians in your time, no doubt. it is one thing to come in with military to a city it is another thing to take it over from the people people will fight even on their own. what can you tell us about the will of the ukrainian people, not military, but individual citizens that you have met >> that's the biggest question going into the war is how the ukrainians would react everywhere you go, you see ukrainians gathering weapons in central square and showing defense forces i was in another city a few daysidays ago and they were turning bottles into molotov cocktails there are people fleeing to get out of harm's way, but more people staying and will fight for their towns and villages if necessary. >> michael schwirtz, on and off

outside russia for 20 years now. michael, we appreciate your views, but most importantly, be safe, take care. thank you very much. all right. let's turn back to the impact on the markets and your money and ripple effects felt from the fighting in ukraine as well as the rollout of sanctions on russia by the u.s. and allies and much of the world. ben eammons is joining us now. ben, you have a global view as good as anybody. always appreciate your notes almost a daily must read what do you believe the further financial ripple implications will be from what is going on or do you think that most of the reset, rebalancing, whatever you want to call it has been done? >> good morning, brian look at the big picture you showed of the invasion advances that russia will reach its goal. it will continue to be pressure

on markets because more sanctions may follow yesterday, the news that russia is putting down sanctions on the west it will effect broader markets if you look within and think about the energy compcomplex, is doing well expect to see more gains there and maybe safe haven into the u.s. assets because people will not be as close to russia. those dynamics will be dominant. i don't think we can completely say this here because they have to get negotiations of the cease fire that has been ongoing at this moment. think of energy and that is fl supplying the market for gains. >> we are seeing the collapse of the ruble and sovereign debt they have come down off the highs of a few days ago. they are up 300%

sanctions on owning debt and trading debt and some has been in place for years a lot of the financial sanctions placed do you think that is going to impact the u.s. markets or western european markets jamie dimon saying the sanctions, although noble and i'm paraphrasing him, may be the goal, but unintended consequences >> and we don't really know how the sanctions are restricting companies from doing business with one another particularly the businesses in russia itself. that is, i think, still to be worked out we see russia with the capital controls we isn't seen any restrictions on u.s. companies not able to sell in russia as an example or european banks not making

payments to russian companies. it is all about the messages system that dimon alluded to i cannot message through s.w.i.f.t., but transact in russia that is still to be worked out on the other hand, sanctions itself are what i think of the trade war with the tariffs they have economic effects trade with russia will slow down dramatically that is what we have to keep an eye on >> i know markets had a tough february, ben. quickly, are we under estimating the risks here this could escalate in a way we have no comprehension of >> absolutely, brian >> markets are on edge ben emons, pleasure to get your view thank you very much. we have more to do on tuesday when we come back. the russian sanctions leaders. the impact it could have on

vladimir putin and his inner circle. plus, monitoring the ongoing humanitarian crisis on the border with ukraine. steve sedgwick is live on the ground we will hear from steve coming up stock futures down bonds bought oil nearing $100 we are back after this getting the incredible iphone 13 without t-mobile, - three...two...one... - makes as much sense as playing hide-in-seek... ready or not, here i come. ...in the desert. [sighs] really guys? t-mobile has more 5g bars in more places than anyone. and now, when you switch, you can get iphone 13 on us, on every plan. you're not going to fit in that hole. don't look any further. unlock the full power, iphone 13 on us at t-mobile. the network with more 5g bars in more places.

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russia in the past few days have been unprecedented that list is long and includes cutting off some russian banks, not all, but some from the s.w.i.f.t. money transport system also export controls and freezing the russian central bank access to the foreign reserves a column in the journal yesterday suggestions sanctions against russia and president vladimir putin will not really hurt until they include energy oil and gas. and they should not be ruled out. let's speak to the author of the column rochelle toplensky thank you for joining us this is a huge, but hugely hot button issue as well to go after russia, you have to go after energy. the source of most of the money. however, in doing so, it could already add to higher prices and consumer inflation in the u.s. and in western europe. what do you think? what are people saying about th

proper balance here? >> thanks for having me on it is a difficultone because balance is obviously going to be very painful to europeans who are relying most on that gas what we've seen in history is the prior sanctions really enabled the russian regime to strengthen their hold and to build up their cash. you talked about the sovereign wealth fund or piles of cash in the central bank we have seen europe pays about 3 $300 million a day and the west pays $150 million. despite the sanctions, that money is coming in and coming

in >> understandable. yesterday, canada said they would stop pbuying russian imports of oil a symbolic move. they aremaking the move as well just a couple of days before the invasion, the u.s. purchased a ship load of russian oil the issue is china we know russia is selling oil to china at a steep discount. ch china's closest ally, they don't care they want the oil. they want to pay less for it i do wonder if the west sanctioned the oil, would china's role pretty much mitigate any damage we might be able to do to putin? >> i think the oil one is really tricky oil is a global market it is like squeezing a balloon if you are to cut off purchases

in the west. oil will go to china or other places interested in buying it it will also possibly push up the price. what you are seeing is that some of the bank sanctions. you mentioned s.w.i.f.t. we have yet to see what banks are included in that and if there is an energy kcarve out th oil. if that doesn't happen, you will see more impact and it is a bit of a balancing act because it will drive up oil prices i think where gas is interesting is gas is far less mobile around the world. there is a pipeline from russia into china, that one is not as big. they can't move the gas around >> we were in london back in november reporting on the

possible energy price spike. if i know in being correct in that reporting, electricity prices can rise by 54% rochelle, thank you. have a great day we've got a lot more to do on deck, outside the global market turmoil, there is, do not forget a major humanitarian crisis in full swing on the border between ukraine and poland that is where we find steve sedgwick steve. >> brian, the humanitarian crisis is close to where i am in poland we have the prime minister boris johnson in the area to discuss military cooperation we will talk more about that when "worldwide exchange" returns. ♪ ♪

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welcome or welcome back. let's get more on the human side of the refugees in ukraine as more are seeking safety the united nations estimates more than 500,000 ukrainians fled polish officials claim 400,000 of them in that nation alone steve sedgwick is on the ground with the latest from poland. steve, good morning. what are you seeing from rzeszow? >> reporter: we are a mile north

of where i'm standing from the 82nd airborne which is here to help the refugees. we are seeing with the border crossing on sunday it was just horrendous i have been with cnbc for two decades. it has the hardest reporting i've had to do watching the families women and children crossing over men folk are not allowed to cross over because of the martial law. men 18 to 60 years old have to fight even if they haven't picked up a gun before i was talking to u.s. aid administrator, samantha power, on saturday about this at the time, we were talking about 150,000 refugees over the bo border now over 500,000 more bombing in kyiv and numbers

are picking up quickly we were at a transit point in poland once you leave kyiv and odesa. it was devastating if you are prepared to look at this stuff, i posted a couple of videos on mine >> we're looking at some of the st still photographs, steve i cannot imagine if you say that, i've got to believe that and to your point, cannot reiterate enough these are mostly women with small children as you said. men are left behind to fight legally not allowed to leave the country. these are families, tens of thousands of them, split apart and unsure if they will see each other again andthe fate of their country or families will be how is poland responding is there enough food do they have the shelter is the world providing funds

>> reporter: brian, when i woke up this morning, it was minus 7 degrees. that's not cold in an insulated home with gas burning stove. if you are sitting in the traffic queue or walking the last 30 kilometers because you want to get through as quickly as possible or huddling down in a station platform on the ukrainian side or polish side, that is devastating. these kids are wrapped up. it is freezing absolutely freezing are for them on the nights here as well are they looked after is your question i think yes. a lot of institutional support poland is doing all it can of a lot of volunteers. the border towns have come together for the ukrainian people is extraordinary. i was 14 kilometers or 8 miles from the border the last couple

days what started as a couple of tents and bits of foods turned into a refugee center near the railway station where the people are coming in. huge amount of food and diapers and medical supplies by volunteers and institutions. i think the pols are doing everything they can. >> the world trying to respond steve sedgwick in poland difficult story. steve, thank you as we head to break, we are seeing stock futures down .75% oil is closing back in on $100 per barrel the ruble continues to fall. we have the continuing coverage of crisis in ukraine with the markets next

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up to 10 gigs to the most small businesses. that's virtually everywhere we serve. the choice is clear: make your business future ready with the network from the most innovative company. comcast business. powering possibilities™. welcome or welcome back. good tuesday morning i'm brian sullivan let's get to the markets and your money on this tuesday there is a lot going on. let's get through it and begin with stock futures futures in the red down .50% to .75%. fair value is in the green indicating the futures could shift as we head toward the market open. right now, we are seeing more red to kickoff the month of march. nasdaq futures off triple digits the market coming off another tough month. dow with the worst month since

november of 2021 we are seeing one quarter of the s&p 500 down more than 15% so far this year. the toll has been taken on a number of stocks all this as the price of oil and energy continues to move higher and oil is up again today. in fact, it was just above $99 not there now. it is creeping it is inching toward $100 a barrel here. it is above $100 a barrel in the uk market. brent crude, the highest close for brent crude, since august of 2014 it is not just equities and bonds and oil. the fighting in ukraine rages on and i want to highlight the moves in russian credit default swaps. they have come down, but look at the spike a couple of days ago remember, credit default swaps are the insurance on the risk of default on any debt.

corporate debt or government debt the sovereign debt spiked a couple of days ago it has come back down. it could be artificial or no trading in the no swap market. a lot of concern in the sovereign debt u.s. imposed sanctions on any debt u.s. investors have been banned since russia invaded crimea back in 2014. the russian market is something else to watch. let's watch the latest out of ukraine the fighting entering the sixth day with the 40-mile long convoy of tanks and armored carriers and other military vehicles is believed to be on the way to the capital city of kyiv fighting intensifying and the ukraine's second largest city of kharkiv. russia launching missile

attacks. ukrainian officials announcing they are under siege from the air. releeasing this video to the public today showing the missile hitting the administration building after 8:00 a.m. we have cal perry from lviv from western ukraine. cal, good morning. >> reporter: good morning, brian. two separate story lines developing here on day six the story of the eastern part of ukraine under heavy bombardment from multiple fronts you mentioned kharkiv. we have seen video out of the armored personnel carriers walking through the city several miles, barracks was hit. 70 soldiers dead ukrainian soldiers according to officials. where i am 50 miles from the

polish border, we are continuing to see the refugee crisis unfold 500,000 people fled the country. the majority into poland there are 10,000 troops bolstering nato forces to help deal with the refugee crisis and ngos, brian. >> cal perry in lviv thank you, cal be safe. the united states and much of the world is leaning heavily on economic sanctions to force putin to call off his war on ukraine. it is his war. some measures are banning transactions from the russian central bank con cutting off most banks from the s.w.i.f.t. payment system. going after putin's money and the cash of his billionaire friends. preventing airplanes from landing in england and russia's soccer team banned from the

world cup. sanctions tried before with limited success. this time it is different. we have dan tanenbaum here with more eight years ago, the sanctions did not work will these work this time? >> thanks, brian i think it is clear to say these are a vast difference from the sanctions imposed in 2014 with the annexation of crimea these are the mother of all sanctions. we have not seen another situation of come prehensive sanctions of targeting a large swath of russia's economy. if the objective of sanctions is to withdrawal the troops from ukraine, i think it is fair to say that won't happen. if the objective is to isolate russia enough to drive regime

change, that is the question many are watching now. >> but the great variable, dan, is china china is rus!russia's greatest y and trading partner and what they buy from russia, most coming from oil and natural gas, which they desperately need. as long as china is enabling financial and currency transactions and energy sales, will that mute the western impact >> we are seeing the ability for lending and trade related to russian commodity transactions limited. y i don't think you will see china bend over backwards to help russia in this situation i think they were generally okay with focusing on the donbas. i think we are seeing messaging from the government of the

country. i would not necessarily count on china being a white knight for russia as may be believed. >> one thing that is directly not sanctioned is oil. we talked about it earlier in the program. that would be a global impact -- probably the greatest sanction of all on russia and putin, we know that, but there is concern about the ripple effects on the already red-hot inflation environment in the united states and western new york from the energy and power right now, not sanctioning oil directly, the right call >> right call inasmuch as the u.s. and allies need to keep its po powder dry canada is announcing it is a small consumer with the suspension of russian energy you will see sanctions across the energy sector. they will not be broad sweeping.

eastern european countries are reliant on russian lng and oil you will begin to see restrictions and ability to purchase russian energy products as they squeeze that market. russian energy markets are the nuclear option if you want the last go at the putin regime. >> jamie dimon said yesterday banning all banks from the s.w.i.f.t. payment system, 11,000 banks, almost every country with the size and scope, in incomprehensible to the average person he said that could have unintended consequences. do you agree >> mr. dimon is spot on. s.w.i.f.t. is not the magic bullet with the lever to pull. s.w.i.f.t. is a messaging system there are other ways to give instructions to move money around the world that unanticipated consequences

that dimon was referring to if you think of any legal western business or energy or oil transactions from western companies where they are selling goods into russia, those companies will be unable to get paid those are the knock-on effects you will see there are a number of large russian banks removed from s.w.i.f.t. some will remain online for precisely that purpose someone needs to finance energy transactions and without that, you do create a real problem for western commerce that is still happening. if you can't pay for oil or lng, they will not send it. >> very well said. dan tannenbaum i appreciate your views. a critical time on the sanctions side thank you. have a great day coming up, your morning rbi is back. this one will show you how fast the markets can change. and more on the energy

story. how uranium is causing concerns. and as we head to break. the shipment of starlink terminals have arrived in ukraine. the prime minister sharing a photo of the antennas will connect global internet signals. elon musk activated the terminals over the weekend you go, elon. and rt and sputnik news in europe is blocked effective immediately. and roku is removing rt from the channel store in europe. the ten-mark yield is falling this morning we are back in a moment.

welcome back the fighting in ukraine is impacting energy and oil and natural gas prices getting the headlines as they should that is not all the impact and conflict is doing. it is causing uranium prices so to soar. shares of mining companies or the element getting a boost. kristina partsinevelos is joining us with the impact on

energy network that we're not talk about enough. kristina >> reporter: seventh in the world in uranium mining. the companies soared by yesterday's close. dennison mines and nexgen energy they closed between 8% to 15% higher even the uranium etf was 6% higher what is driving all of the miners higher? germany announced it is looking to extend the life span of the nuclear power plants in the face of uncertainty of russian gas supplies it is the change of heart considering germany has been anti-nuclear for over a decade pro nuclear energy sentiment growing. the eu and japan now recognize nuclear energy and clean energy.

this graph on the screen on the far left shows nuclear operating at full capacity at 94% of the time the most reliable energy source by far given uranium is the fuel used by nuclear plants, many are seeking exposure to the space. there has been a major jump to etfs in the last few years the market is continuing to be in a supply deficit. >> we are getting to the primary supply of uranium which is far too low for the market and you will need higher prices for the construction of new mines. that is where this plays out >> reporter: even if germany doesn't follow through with nuclear power because of tensions with russia, the world is in a race to cut emissions. all while global energy is expected to increase by 50% in

less than 30 years governments have no choice but to explore all options of power supplies that could bode well for the yellow cake, brian >> kristina partsinevelos on the important uranium story. kristina, thank you. on deck, stocks looking to add more pain. tiffany mcghee is here coming up. if you haven't already, follow our podcast available on all major podcasting apps. stock futures are down oil isp. 'rba aerhis. u

welcome back the rbi is back. the most random but interesting thing is to do with markets and maybe important lessons about them here is the thing. we know cnbc is the smartest

audience in all television you are right more than you are wrong. not always during thanksgiving, we ran a poll asking for the best market return with four options bitcoin or the nasdaq 100 or s&p small cap or japan bitcoin got 40%. everything went haywire. bitcoin tumbled and vladimir putin decided to start an unforgivable and sad war with ukraine. markets adjusted how did it turn out? none of those four made money to the upside the top performer, if you will, was the small cap 600. it fell by 8% in the past three months which is one of the best performers of the four japan, which nobody loved, the

second best performer. bitcoin is the most loved of all was the worst performer in three months down 24% we love you all. this is not a knock on any of you. maybe a good historical note and reminder that investing is hard. things change fast one day we're talking about interest rates the next day about russia's madman trying to conquer a friendly nation. a random, but important lesson on investing let's bring in your next guest. tiffany mcghee tiffany, welcome the poll coming in and things could change is simply when we ran that poll at thanksgiving, we were talking about maybe rates will rise. all of a sudden, everything we talked about in november seems like a back story now just in three months markets are hard they adjust quickly.

>> absolutely. good morning, brian. so, yeah what a difference not even a full three months. i feel like we had the holidays and we went into the new year and all of a sudden, everything changed. yeah, listen, here is how that goes, right? when i think about investors, especially new investors who are recently in the game 25 million new investors since 2020 in the height of the pandemic when i think about them and, you know, what their feelings might be about the market and especially the returns return expectations. 2020, the market rebounded faster than the economy. in 2021, we had strong returns as well. we are coming off several years of strong returns. just like that, everything changes. i think about, you know, the

markets really giving investors -- even me and i have been doing this a long time -- whi whiplash this is important to understand the strategy and understand why you're in the game and if you are a longer-term investor this is not a couple of days of vo volatility it will continue again, this is this year and, you know, this, too, shall pass. >> we need to forget -- not forget that, tiffany at the same time, it is hard to talk about anything else very difficult to say we should buy microsoft at the same time families are split apart in ukraine. we know that it is an odd and difficult thing to do. we also do need to remember there it is a mission on cnbc. the mission may be to help people recover from this in some ways in that way, you like blackstone perhaps.

stocks dislocated for no other reason other than the entire market gets dislocated, correct? >> correct listen, the market does not like uncertainty. going into 2022, we had the uncertainty of the fed and how much they would raise rates and an emergency meeting to raise rates. now we are dealing with ukraine. i think ultimately the major impact on russia's invasion comes down to increased inflation. when it trickles down and increased inflation. thinking about investments going forward, think about focusing on hedging inflation. looking at stocks like blackstone group which really has strong revenue estimates going forward this year and next year they had a strong quarter last year they

a they are expected to grow this year next year at an 5%. it is hard to talk about when people are suffering right now >> it is that is our mission. tiffany mcghee, thank you. speaking ever our mission. looking at financial markets bur bank was trading in london it was halted. that stock down another 20% right now. down 20% not worth zero, but getting close. the financial impact of what is happening with putin's war that does it for us on "worldwide exchange. we will see you tomorrow "squawk" and the gang pick up the coverage next. have a great day

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good morning escalation in ukraine. russia attacking residential areas now of ukraine's second largest city satellite images show a large military convoy approaches kyiv. sanctions taking a toll on russia as economic ties with much of the world are receiver severed. and investors on edge. stocks set to tumble as we kickoff a new month of trading is it really march 1st fewer days in february it is tuesday, march 1st it's still 2022. "squawk box" begins now.